[ET Net News Agency, 4 November 2019] Nomura said Macau gaming revenues declined 3.2%
YoY in October, lower than the research house's forecast of roughly flat YoY. Nomura's
consultant checks suggest low VIP hold % at one of Macau's largest junkets was responsible
for the lower-than-expected October GGR number.
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% YoY decline in
November, or 580bp of sequential deceleration given a tough one-year growth comp.
Nomura said the US-listed Macau stocks are up 8% on average over the past month (versus
+3% for the S&P 500 Index), so the 3.2% GGR decline in November could be viewed as a
modest near-term disappointment. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00880 SJM HOLDINGS
Nominal 
2.630 -0.050 (-1.866%) Others
04/11/2019 10:31
{I-bank focus}Macau Nov GGR seen down 9% to MOP22.5-23bn
| Remark: | Real time quote last updated: 19/04/2024 12:51 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |