Macau Nov. GGR trending down 19 percent, Sterne Agee says

Gross gambling revenue in Macau was MOP7.0 billion ($0.9) through to Nov. 9th, indicating a year-on-year decline for the month of 19 percent, according to Sterne Agee’s checks.
The firm said it is retaining its Nov. GGR forecast for a drop of between 17 and 21 percent.
“The 61st Macau Grand Prix (November 13 – November 16) should work to slightly boost average daily mass table revenue, though we anticipate some softening in the weeks following the event. November GGR growth was +21 percent last year, and VIP hold was 2.9 percent, the second lowest of the year.
Sterne Agee says to date there is no change to the headwinds affecting gambling revenue in Macau, which include China’s anti-corruption campaign, a slowing mainland economy and a visit by China’s President Xi Jinping in December.
“We continue to forecast mostly negative high- to mid-single-digit growth declines for early next year, followed by solid mid-teens GGR growth in the back-half of 2015. Our CY15 GGR growth forecast is +5 percent followed by over 20 percent growth in CY16.”
GGR fell for the fourth straight month in October, dropping 23.2 percent in its worst-ever decline.