Macau’s gross gaming revenue declined 3.2% in October, although the National Day holiday ensured it was the SAR’s biggest month of the year in real terms.
October’s MOP$26.44 billion (US$3.28 billion) in GGR was largely in line with consensus and enough to outpace 2019’s previous high of MOP$25.95 billion achieved in May.
Once again, weakness in VIP dragged the numbers down with JP Morgan analysts estimating that VIP volume fell by around 20% year-on-year, although both mass and VIP reportedly grew by around 20% sequentially.
According to brokerage Sanford C Bernstein, the average daily revenue in October was MOP$852 million, having begun strongly due to Golden Week before fading to around MOP$711 million at the back end of the month.
Early estimates have November GGR declining by between 3% and 6% year-on-year.
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