[ET Net News Agency, 22 October 2019] Nomura estimated Macau gaming industry's average
daily GGR last week was around MOP857mn, up roughly 14% sequentially versus its estimate
for the prior week (MOP750mn/day) and 26% higher month-to-date versus the average in
September (MOP736mn/day).
By segment, it estimated that (1) average daily mass revenues were up 13-14%, (2) VIP
hold percentage was 3.3-3.4% (versus the "normalized" hold range of 2.7-3.0%), and (3) VIP
volume growth is tracking 20% lower versus the same period last year.
Assuming October GGR increases sequentially (MoM) in line with its trailing seven-year
median of up 20% versus September, Nomura estimated GGR for the month should settle around
MOP27bn, roughly flat.
Nomura noted that November/December comps would become tougher, so it would not be
surprised if, as in 3Q, GGR declines on a year-over-year basis in 4Q. (KL)
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01928 SANDS CHINA LTD
Nominal 
18.240 -0.220 (-1.192%) Research Report
22/10/2019 10:36
{I-bank focus}Macau's October GGR seen roughly flat - Nomura
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