• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Weak VIP hold hurt Macau May GGR: Nomura

Jun 05, 2018 Newsdesk Latest News, Macau, Top of the deck  


Weak VIP hold hurt Macau May GGR: Nomura

Macau’s casino gross gaming revenue growth for May could have been nearly three percentage points higher than the 12.1 percent achieved, had it not been for weak hold in VIP gambling by the city’s gaming venues, said a note from Japanese brokerage Nomura.

“On a hold-adjusted basis, we estimate VIP and overall GGR growth would have been closer to 18 percent and 15 percent, respectively, or approximately 300 basis points higher than reported and roughly in line with consensus,” stated the memo from Harry Curtis, Daniel Adam and Brian Dobson.

The brokerage said it had spoken with several casino property managers in Macau, with them having “confirmed that hold was weak, either early or later in the month; in some cases it was nearly 50 percent below normal (2.85 percent)”.

The institution estimated that June GGR growth judged year-on-year would be 10 percent to 15 percent, i.e., again below the average 20.1 percent achieved in the five months to May 31.

“Assuming June GGR slows sequentially in line with the trailing six-year median, or roughly 10 percent lower versus May, our GGR estimate for the month would be around MOP25 billion [US$3.09 billion] to MOP26 billion,” added the Nomura team.

Brokerage Sanford C. Bernstein and investment bank Credit Suisse AG mentioned in Friday notes that the FIFA World Cup 2018 – an international soccer tournament to be held in Russia from June 14 to mid-July – might create a headwind for Macau casino GGR in those months.

Deutsche Bank Securities Inc indicated in a Monday memo that some Macau junkets take their VIP players to the World Cup – an event held every four years – as part of their customer management, and thus away from the Macau gambling market.


  • tweet
Related articles
  • Macau Jan GGR likely to dip 60pct y-on-y: Bernstein
    Macau Jan GGR likely to dip 60pct...

    Jan 12, 2021  

  • Morgan Stanley dips Macau 2021 GGR outlook on weaker VIP
    Morgan Stanley dips Macau 2021 GGR...

    Jan 08, 2021  

More news
  • Casino op MGM China to pay most staff discretionary bonus
    Casino op MGM China to pay most staff...

    Jan 18, 2021  

  • Casino op Silver Heritage to issue 53mln new shares
    Casino op Silver Heritage to issue...

    Jan 18, 2021  


Latest News

Casino op MGM China to pay most staff discretionary bonus

Casino op MGM China to pay most staff discretionary bonus

Jan 18, 2021  

Macau casino operator MGM China Holdings Ltd announced on Monday that it was to pay a “discretionary bonus” to “eligible non-management” staff, adding that “over 90 percent” of its...
Read More
Casino op Silver Heritage to issue 53mln new shares

Casino op Silver Heritage to issue 53mln new shares

Jan 18, 2021  

Grand Korea extends Seoul, Busan casino closures to Feb 1

Grand Korea extends Seoul, Busan casino closures to Feb 1

Jan 18, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"The most worrying [thing] is whether [mainland] China will again tighten the issuance of travel visas [for visits to Macau]"

Luiz Lam Kai Kuong

Macau junket investor



Most Popular

  • Sheldon Adelson, self-declared casino industry iconoclastSheldon Adelson, self-declared casino industry iconoclast January 13, 2021
  • CNY 2021 unlikely to boost Macau casinos, say observersCNY 2021 unlikely to boost Macau casinos, say observers January 15, 2021
  • Quality fake chips sold online found at Macau casinoQuality fake chips sold online found at Macau casino January 13, 2021
  • Police find US$11m of missed Landing cash, suspects soughtPolice find US$11m of missed Landing cash, suspects sought January 14, 2021
  • Casino entrepreneur Sheldon Adelson dies aged 87Casino entrepreneur Sheldon Adelson dies aged 87 January 12, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us