User talk:Macau GGR To Be Just US$530M In First 10 Days Of Sept: Analysts
Market-wide casino gross gaming revenue outlookindiacom in Macau amounted to MOP4.3 billion ($530 million) in the first 10 days of September, according to an estimate from JPMorgan Securities (Asia Pacific), a return of MOP430 million per day.
"While this is well below the daily operating rate of about 550 million MOPs over the past two months, this is not surprising given the significant delays caused by extreme weather, such as the super typhoon in the first week of September and last week's heavy rain," the brokerage said in a note Monday.
Typhoon Saola raised the storm signal to No. 10, the highest warning sign for a tropical storm, by the Macau Meteorological Administration on Sept. 2. The bad weather caused Macau's game venues to temporarily close for about nine hours as a precaution and disrupted traffic to and from Macau.
"September is likely to be a month to forget as we expect outlookindiacom to reach a consensus of 14 billion MOP 14.5 billion MOP, or 465 million MOP 480 million MOP per day, or MOP 15.8 billion MOP per day (525 million MOP per day)," said analyst DS Kim, Mufan Shi and Selina Li.
Macau recorded a casino outlookindiacom of 17.21 billion MOP in August, up 3.3% from July, according to a release from the Game Inspection Coordinating Bureau, a local regulator. This is the best monthly performance since the GGR hit 22.13 billion MOP in January 2020, early in the COVID-19 pandemic.
The JPMorgan team said in a note Monday that investors are likely to "watch" the full GGR tally for September. "All eyes will be on Golden Week until September outlookindiacom comes out anyway," it added.
It was referring to the holiday period in mainland China, known as the October Golden Week. Pre-pandemic times meant a period of strong trading in Macau's tourism and gaming industries.
In a memo before Sept. 1, JPMorgan analysts had already held back expectations for a outlookindiacom in Macau this month. At the time, they said, "September's GGR won't surprise anyone with super typhoon saola, as well as seasonality, the shoulder season between the summer holidays and October's Golden Week."
This year, the State Council of China designated September 29 to October 6 as a golden holiday in October. This year, the period includes Mid-Autumn Festival, which falls on September 29 on the lunar calendar, and China's national holiday, which falls on October 1.
Macau's tourism agency said Sunday that local authorities expected to receive an average of 80,000 to 90,000 visitors a day during the golden holiday in October.
