[ET Net News Agency, 12 November 2019] Nomura estimated Macau gaming industry's GGR/day
through the first ten days of the month was roughly MOP750mn, down 12% sequentially versus
last month's average (MOP853mn/day), which seasonally benefited from the October Golden
week holiday (1-7 October).
By segment, the research house estimated that average daily mass revenues were 11-13%
higher, VIP hold percentage was 2.9% (versus the "normalized" hold range of 2.7-3.0%), and
VIP volumes are tracking 30-32% lower versus the same period last year.
Assuming November GGR declines sequentially (MoM) in line with its trailing seven-year
median of down 13-15% versus October, Nomura estimated GGR for the month should settle
around MOP22.5-23bn. The midpoint of the estimated range implies a 9% decline in November,
or 580bp of sequential deceleration, given a tough one-year growth comp. (KL)