Macau gaming continues to suffer from Hato aftermath

Macau’s gaming industry continues to be affected by the aftermath of typhoon Hato, with VIP and mass revenue slowed in the first ten days of the month, says Bernstein.

While a slowdown in September is expected due to weaker seasonality, the brokerage said a carryon effect from typhoon Hato impacted mass and VIP revenue, which was down month-on-month.

Gross gaming revenue (September 1-10) reached MOP 6.8 billion, with ADR of MOP 680 million.

Under the current trajectory, Bernstein says it estimates September GGR to be in a range of MOP 19.8 to 20.4 billion, representing a year-on-year increase of 8-11 percent.

More news from this jurisdiction

MacauThursday, Mar 22, 2018

Melco Resorts & Entertainment said its board has approved a $500 million share repurchase program.

MacauThursday, Mar 22, 2018

The Macau Horse Racing Company has been given three years to pay its back taxes and if it fails its license will be revoked, Secretary for Economy and Finance, Lionel Leong Vai Tac said.

MacauThursday, Mar 22, 2018

At least two casinos in Macau have applied to build smoking lounges in their casinos, said the Health Bureau on Wednesday, local media reports.

MacauWednesday, Mar 21, 2018

Macau gaming machine distributor Asia Pioneer Entertainment said revenue jumped by 63.7 percent in 2017, though net profit fell due to the expenses associated with the group’s recent stock exchange listing.

MacauTuesday, Mar 20, 2018

China’s VIPs have an ever growing number of IRs to choose from, but Macau is unlikely to be knocked from its post as the top draw for high rollers any time soon, analysts say.

MacauMonday, Mar 19, 2018

Melco Resorts & Entertainment CEO Lawrence Ho said the company will take care of the family of a worker who died at the construction site of its Morpheus hotel on Sunday.

Macau, Mainland ChinaMonday, Mar 19, 2018

Zhuhai airport plans to add more flights to improve connectivity to the Macau region.