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RTNominal down11.120 -0.060 (-0.537%)

19/11/2019 15:20

{I-bank focus}Macau Nov GGR seen down 8-10% to MOP22.5-23bn

[ET Net News Agency, 19 November 2019] Nomura estimated Macau gaming industry's GGR/day
last week was roughly MOP700mn (MOP729mn/day month-to-date), down 7% versus Nomura's
estimate for the prior week (MOP750mn/day).
By segment, the research house estimated that (1) average daily mass revenues were 8-10%
higher, (2) VIP hold percentage was 3.1% (slightly above the "normalized" hold range of
2.7-3.0%), and (3) VIP volumes are tracking 31-32% 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 tougher one-year growth comp. (KL)

Remark: Real time quote last updated: 02/04/2020 17:59
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