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Gross gambling revenue (GGR) in Macau increased by 8.5 per cent, exceeding the analysts’ predictions.
Macau’s Gaming Inspection and Coordination Bureau (DICJ) released figures for the month of November revenue. It says that overall revenue was MOP25 billion ($3.1 billion) while average daily revenue was MOP833 million.
The boost in revenue in VIP sector is the main catalyst behind the growth. Bernstein, a top analyst, said, “Had hold been more normal at 3 per cent, y/y growth would have been 4 per cent. We estimate VIP GGR was up 10 per cent y/y and Mass was up 7 per cent.”
The firm also estimates that for December, growth will be between 6 and 8 per cent. It noted, however, that last year December was relatively weak.
The 2018 edition of the “Golden Week” public holiday, as well as the subsequent opening of the Hong Kong-Zhuhai-Macau Bridge, reportedly helped Macau to record a 9.2 per cent increase year-on-year in October visitor numbers to 3.15 million.
Source: Latest News on European Gaming Media Network
