Sunday, August 14, 2022

China housing slowdown may cool Macau GGR


A cooling of the housing market in Mainland China could mean a drop in VIP and premium mass business in Macau, analysts from Wells Fargo noted on Monday.

Recent restrictions on the housing market, leading to a 40 percent year-on-year drop in home sales volume in Beijing in October, could signal a drop in gaming revenues for the gambling enclave.

“In our view, a stronger housing market is likely driving some of the recent uptick in VIP and premium mass business,” said the brokerage.

“Recent government restrictions could see the housing market cool over the coming months,” it added.

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