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Macau GGR tumbles 8.6% in August

Newsdesk by Newsdesk
Sun 1 Sep 2019 at 17:05
Japan Consul-General predicts little competition between Macau and Japan casino industries
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Macau’s gross gaming revenue fell 8.6% year-on-year in August to MOP$24.26 billion – the second lowest amount for the year after June’s MOP$23.81 billion.

The decline, which saw GGR miss estimates by some margin, comes in the wake of numerous headwinds for the industry, including negativity surrounding VIP as a result of recent Chinese media reports, the ongoing US-China trade war and transport disruptions owing to the Hong Kong protests.

According to JP Morgan’s DS Kim and Jeremy An, VIP GGR likely declined by 26% to 28% for the month with mass up by around 7%, although “the mass segment came as a bigger disappointment as our mid-month checks and Macau trips suggested no sign of mass slowdown.”

IAG understands rolling chip volume for Macau’s top four junkets has declined by around 30% year-on-year.

August’s results mean that Macau’s GGR for the first eight months of 2019 is now down 1.9% to MOP$198.22 billion.

Early estimates have September revenue enjoying a slight 1% to 2% year-on-year improvement.

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The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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