The November GGR result marked the 16th consecutive month of year-on-year GGR growth in the market.
The latest monthly GGR result meant the Macau market’s tally for the first 11 months of 2017 stood at USD29.63 billion, up 19.5% from the prior-year period, according to the official data. GGR for the first 11 months of 2017 already surpassed the figure recorded for full 2016, when the city’s casinos recorded aggregate GGR of USD27.2 billion.
Analysts DS Kim and Sean Zhuang of JP Morgan Securities (Asia Pacific), said in a Friday note the USD95.5 million average daily revenue implied by the November result was the “best non-holiday” daily performance “in three years, only topped by this year’s October Golden Week and Chinese New Year demand.”
The institution added it represented the fifth consecutive month that Macau GGR had beaten market expectation.
Brokerage Sanford C. Bernstein described the November tally as “wildly ahead of expectations”.
“We continue to voice caution about the strength (and volatility) surrounding VIP,” stated analysts Vitaly Umansky, Zhen Gong and Cathy Huang, referring to the high roller segment. “High hold rates in VIP along with continued volume strength creates volatility and lack of ability to more accurately forecast the monthly trend,” they added.
Source: GMB / GGR Asia
