Good Morning: Macau’s November results are lagging behind the ever-popular Golden Week month of October, but gross gaming revenue still reached $348 million in the first five days. Analysts at Citigroup note that November is typically the slow month in the quarter, estimating around $2 billion in GGR during the month. Meanwhile, the hotel sector in Macau saw lower-than-expected results in October, with most visitors not choosing to stay overnight.
What you need to know
- Macau’s GGR amounted to $348 million from Nov. 1-5, with a daily run-rate 9 percent lower than the final eight days of October.
- October hotel visitation in Macau, while impressive, failed to match the industry’s expectations, with patrons cautious in their spending.
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- Singapore investigating 42 for alleged links to illegal gambling operations.
- DigiPlus reports 10-fold income growth in 1Q-3Q.
- Air Macau concession extended until aviation law’s completion.
AGB Intelligence
MACAU
Macau GGR at $348 million from Nov. 1-5, month expected to hit $2 billion
Citigroup analysts say that November has gotten off to a slow start in Macau, with some $348 million in gross gaming revenue registered during the first five days of the month. Expectations are for some $2 billion in total GGR during the month, about 70 percent of pre-pandemic levels. Typically the slowest month of the quarter, monthly comparisons are likely to be lackluster given the record hit in the Golden Week month of October.
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