Gross gaming revenues up 5.9 pct y-o-y in June
Wednesday 03 de July 2019 / 07:58
2 minutos de lectura
(Macau).- Macau gross gaming revenues have increased 5.9 per cent year-on-year in June 2019 to MOP23.8 billion (US$2.9 billion), data released by the Gaming Inspection and Co-ordination Bureau (DICJ) on Monday revealed.
Accumulated gross gaming revenue for the first half of the year has totalled MOP149.5 billion, a decrease of a slight 0.5 per cent when compared to the same period last year.
‘While GGR for the first three weeks of June was weaker due to low hold, GGR picked up in the last week. Assuming weekly channel checks during the first part of the month were accurate, the implied average daily revenue for the last seven days of June would have been a more robust MOP946 million,’ Bernstein stated in its note.
Meanwhile, the brokerage estimated that July could see a gross gaming year-on-year growth between 2 and 4 per cent, with that month last year having recorded some MOP25.3 billion in gaming revenues.
‘Year-on-year comparison began to ease in June as expected, and it should continue as we head into July. Recall GGR was quite robust in early 2018, until US-China trade tensions heightened beginning last summer. Also, we may see the surprise on the upside if VIP rebounds,’ the brokerage stated.
Bernstein had also predicted that a recovering credit cycle in China could lead to a recovery in VIP results in the second half of this year but with continued tensions in US-China trade relations casting uncertainty over a recovery in gross gaming revenues increase. ‘If a trade war sustains over an extended period, it will likely pose as headwind to China’s economy and gaming spend from China’s high net worth individuals in Macau,’ the note stated.
Categoría:Gaming
Tags: casinos,
País: Macao
Event
GAT EXPO CARTAGENA DE INDIAS 2024
09 de April 2024
Unveiling innovations: WA.Technology's highlights from GAT Expo 2024
(Cartagena de Indias, SoloAzar Exclusive).- In an exclusive interview with Patricio Molloy, Business Development Latam at WA.Technology, we delve into the latest offerings showcased by this leading gaming solutions supplier firm at the GAT Expo Cartagena 2024. From a comprehensive iGaming platform to cutting-edge AI integration, discover how this company is shaping the future of gaming experiences in Latin America and beyond.
Monday 06 May 2024 / 12:00
Unmissable Round Table with experts on eSports at GAT
(Cartagena, SoloAzar Exclusive) eSports continue to grow in the Latin American gaming market. In this conference that was part of the GAT edition, a panel of specialists analyzes the present and future of eSports in the region and provides data on how to promote this growing area of the betting market.
Monday 06 May 2024 / 12:00
Repercussions of FECOLJUEGOS panel on challenges and the future of industry in Latin America in GAT 2024
(Cartagena, SoloAzar Exclusive).- Evert Montero Cárdenas, President of Fecoljuegos, and four member panelists from the institution, analyzed the challenges facing gambling operators in Latin America, within recent GAT 2024 event.
Friday 03 May 2024 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.