Macau GGR down 8.5% in November

Macau’s gross gaming revenue fell 8.5% to MOP$22.88 billion (US$2.84 billion) in November, the second lowest total of the year in real dollar terms above only the MOP$22.08 billion reported in September.

But the result was met with some positivity by analysts, who noted that early estimates had November GGR declining by as much as 15%.

The monthly total amounted to average daily revenue of MOP$763 million per day, which “wasn’t too bad considering that it was in line with seasonally solid 3Qs (MOP$770 million), despite disruptions from significant social unrest in Hong Kong as well as some visa control in Macau SAR towards the end of the month,” according to JP Morgan’s DS Kim, Jeremy An and Derek Choi.

VIP revenue is estimated to have fallen by around 25% compared with November 2018 levels with mass falling by between 5% and 7%.

Macau’s GGR for the first 11 months of 2019 now sits at MOP$269.62 billion (US$33.44 billion), down 2.4% year-on-year.

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