Macau’s gross gaming revenue continues to be impacted by the aftermath of Typhoon Hato, with mass market GGR down by “mid-single digits” and VIP by 10% month-on-month over the first 10 days of September, according to brokerage Sanford C Bernstein.
In a Monday note, Bernstein analysts Vitaly Umansky and Zhen Gong estimate Macau GGR from 1 to 10 September of MOP$6.8 billion at an average daily rate (ADR) of MOP$680 million, representing an 8% decline from August’s ADR of MOP$741 million.
Typhoon Hato, which devastated Macau when it hit on 23 August, caused around MOP$11.5 billion worth of damage according to government figures released last week. However, that MOP$11.5 billion does not include any ongoing impact on gaming operators.
“While the slowdown in September is expected on weaker seasonality, the first 10 days of the period covered two full weekends,” said Bernstein. “GGR was impacted by the carry-on effect from Typhoon Hato.”
Bernstein is predicting year-on-year GGR growth of between 8% and 11% for September.
