The report stated: "Most expect June will represent the peak of year-on-year GGR growth comparisons (30 %). Net-net, we weren’t able to identify that next leg of market acceleration, and believe the most likely trajectory from here is a deceleration in comparisons, which, at current [stock price] levels, keeps us on the sidelines.”
The institution suggested, as have other investment analysts ,that growth in VIP play has been a big factor expanding Macau casino GGR in recent months. The local gaming regulator, the Gaming Inspection and Coordination Bureau, only gives the split between mass-market and VIP GGR on a quarterly basis.
First-quarter VIP casino GGR expanded by 16.8 % year-on-year, while mass-market casino GGR – including that from slot machines – rose by 8.5 % from the prior-year period.
Deutsche Bank noted in its Sunday memo that what it termed "crackdown activity in the Philippines” and events in China involving employees of Australian casino operator Crown Resorts Ltd, had "benefited the Macau VIP environment”.
Sorce: GMB / GGR Asia
