[ET Net News Agency, 26 November 2019] Nomura estimated Macau gaming industry's GGR/day
last week was roughly MOP771mn (MOP742mn/day month-to-date), up 10% versus the research
house's estimate for the prior week (MOP700mn/day) .
By segment, Nomura estimated that (1) average daily mass revenues were 5-7% higher, (2)
VIP hold percentage was 3.3% (above the "normalized" hold range of 2.7-3%), and (3) VIP
volumes are tracking 30-32% lower versus the same period last year.
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, down 8-10%. The midpoint of the estimated range implies a 9% decline
in November or 580bp of sequential deceleration, given a tougher one-year growth comp.
(KL)