GGR or the Gross gaming revenue in Macau saw a hike of 36.4 per cent in January to a €2.58 billion, the most striking and the highest year-on-year improvement since 2014.
With the region’s gross gaming revenue hiking from 36.4 per cent in January to €2.58 billion, the new year 2018 started off with Macau witnessing the most amazing results. This growth claims to be the highest year-on-year improvement ever since 2014, prior to the regulatory crackdown in the gambling hub.
Brokerage Sanford C. Bernstein Ltd said: “Macau January GGR was much stronger than original expectation and well above consensus (27 per cent year-on-year). Average daily revenue for the month was €83.5 million (16 per cent above December ADR of €72.1 million) and only 1 per cent below October (the busiest month of the year).”
JP Morgan, an analyst further stated: “Based on our checks, we estimate VIP GGR was up 50 per cent year-on-year and mass GGR was up 22 per cent to 24 per cent year-on-year, both of which showed big accelerations from recent trends and beat recent expectations, partly helped by easy comps (given Chinese New Year calendar shift) and VIP luck.”
Going forward Fitch Ratings, the Director Colin Mansfield forecasted an 11 percent GGR growth for the year. At a media briefing session on Thursday, he stated: “[January’s growth] is a deceleration from 19 percent that we saw last year.”
Source: European Gaming News