Macau August GGR missed expectations, falling 8.6 percent year-on-year to MOP24.3 billion, according to data from the Gaming Inspection and Coordination Bureau.
Analysts earlier said that GGR was impacted by Typhoon Lekima which hit coastal cities in China, and there continues to be pressure on junket VIP due to the negativity surrounding Suncity.
The analysts also pointed to transport disruptions as a result of protests in Hong Kong but said the impact has been immaterial.
On Sunday night analysts from Bernstein also pointed to continuing weakness in the Renminbi as a possible reason for the GGR slump.
However, while August revenues have been down, Bernstein analysts said they expect September GGR to grow 6 to 9 percent year-on-year, due to the impact of Typhoon Mangkhut in September 2018.
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.
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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.
Before the Covid-19 crisis, tourism in the Greater Mekong Sub-Region was at a record high, on track to welcome 80 million visitors in 2019, generating some $90 billion in revenue.
