Gaming

Gross gaming revenues up 5.9 pct y-o-y in June

Wednesday 03 de July 2019 / 07:58

⏱ 2 min read

(Macau).- Macau gross gaming revenues have increased 5.9 per cent year-on-year in June 2019 to MOP23.8 billion (US$2.9 billion), data released by the Gaming Inspection and Co-ordination Bureau (DICJ) on Monday revealed.

Gross gaming revenues up 5.9 pct y-o-y in June

Accumulated gross gaming revenue for the first half of the year has totalled MOP149.5 billion, a decrease of a slight 0.5 per cent when compared to the same period last year.

‘While GGR for the first three weeks of June was weaker due to low hold, GGR picked up in the last week. Assuming weekly channel checks during the first part of the month were accurate, the implied average daily revenue for the last seven days of June would have been a more robust MOP946 million,’ Bernstein stated in its note.

Meanwhile, the brokerage estimated that July could see a gross gaming year-on-year growth between 2 and 4 per cent, with that month last year having recorded some MOP25.3 billion in gaming revenues.

‘Year-on-year comparison began to ease in June as expected, and it should continue as we head into July. Recall GGR was quite robust in early 2018, until US-China trade tensions heightened beginning last summer. Also, we may see the surprise on the upside if VIP rebounds,’ the brokerage stated.

Bernstein had also predicted that a recovering credit cycle in China could lead to a recovery in VIP results in the second half of this year but with continued tensions in US-China trade relations casting uncertainty over a recovery in gross gaming revenues increase. ‘If a trade war sustains over an extended period, it will likely pose as headwind to China’s economy and gaming spend from China’s high net worth individuals in Macau,’ the note stated.

Categoría:Gaming

Tags: casinos,

País: Macao

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