Macau’s gross gaming revenue is on track for growth of between 11 percent and 13 percent in July, according to analysts at Bernstein Research.
Bernstein said its channel checks have grown month to date GGR of MOP18.35 billion ($2.27 billion), which is 13 percent higher than the same period a year earlier. The figure is so far 11 percent higher than June and 1 percent higher than May.
The mass market was likely up mid-single digits month-on-month, while the VIP volume was likely up low teens, the firm said, cautioning that weekly channel checks can prove volatile and not always accurate.
In June GGR came in 12.5 percent year-on-year, down from the 18-20 percent expected by analysts. The shortfall sent shares in Macau operators tumbling.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
Mohegan Gaming & Entertainment has announced its operating results for its fourth fiscal quarter ended September 30, 2020. Net revenues were US$294 million, a 29 percent decrease; income from operations was US$50.2 million, a 220 percent increase; and adjusted EBITDA was US$82.8 million, a 7.4 percent decrease.
Bangkok police arrested 94 people during a raid to stop illegal gambling in a casino that was operated by 27 people, 13 of whom were foreign nationals. Senior police face inquiry on allegations of negligence.
Russia’s parliament has passed a new bill redistributing control over the online betting market, creating a unified gambling regulator to track bets and allocations to sporting leagues and significantly increasing costs to the industry.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.