Wednesday, August 10, 2022

September GGR likely disappointing: Bernstein


Higher-end gaming is likely to remain tepid in the days leading up, and during the Golden Week holiday, which will likely mean a disappointing GGR month, said Bernstein in a note on Monday. 

The brokerage said this is despite solid hotel bookings during Golden Week, as it expects customers to be of “lower quality”, meaning lower spend per head. 

Bernstein has reduced its September GGR estimate to -1 percent to 1 percent year-on-year. 

The GGR slowness becomes more apparent if one recalls that last year’s September GGR figure was impacted by Typhoon Mangkhut, and that there have been no weather-related issues so far this month. 

Bernstein added that GGR softness is attributed to continuing weakness in CNY currency, along with negativity surrounding Suncity and junket VIP. 

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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