November marked the 28th consecutive month of growth for the Macau gaming sector but also the third month in a row of just single-digit growth. September and October were actually the sector’s weakest months of growth in more than two years. The VIP sector increased by 10% whilst mass market grew by 7%.
Deutsche Bank Securities described the result as a “pleasant upside surprise” and poredicted December could be even better.
“Over the last six years, December win per day has been about 2.6 per cent better than the win per day in November,” it said. “Given the November result (US$104.3m win per day), this math would imply a win per day in December of about US$107m and a full-month result of about US$3.316bn, up 16.7% year-on-year, and a two-year stack comparison of plus 33.7%,” it said.
Analysts at Sanford C. Bernstein believe that December GGR could see growth of 8% year-on-year.
Union Gaming’s Grant Govertsen warned: “The December calendar is unfavourable, with one fewer Friday. Looking ahead to the first quarter of 2019, we expect a slow start to the year, with the whole of the first quarter of 2019 at plus 3%.”
Source: GMB / G3 Newswire
