Wednesday, August 10, 2022

GGR poised for 7 percent growth in 2017: Bloomberg


Gambling revenue in Macau is poised to rise 7 percent in 2017 led by mass market players, according to analysts surveyed by Bloomberg.

In November, visitor numbers from South Korea, Japan and the U.S. went up, offsetting the decline in mainland Chinese tourist arrivals.

“There are definitely more reasons to come to Macau now versus two years ago, and that is the key reason why overnight visitation is growing faster than total visitation,” said Nomura Holdings Inc. analyst Richard Huang to Bloomberg. As more casinos open in Macau in the coming years, “we expect that to continue to drive growth in the mass gaming segment,” he said.

While gross gaming revenue for the month of December is expected to be announced in early January, analysts are expecting full-year gross gaming revenue to be near MOP 222.8 billion ($28 billion), down 3.5 percent year-on-year.

According to analysts however, 2017 GGR will see growth as Sands’ Parisian and Wynn Palace continue to ramp up.

“Without a doubt over the past several months, Macau has felt busier than it has in a couple years,” said Grant Govertsen from Union Gaming.

Meanwhile, Morgan Stanley analysts believe improving infrastructure will further support the influx of mass gaming players to the gaming hub.

“These infrastructure improvements will drive higher visitation and potentially higher spending per capita,” said the brokerage.

Morgan Stanley analysts are estimating a 10 percent growth in GGR for 2017.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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