November marks 28th consecutive month of growth for Macau

Macau, casino, revenue, financials

Macau’s casino revenue exceeded analysts’ predictions in November, with GGR coming in at MOP 25bn($3.1bn), a rise of 8.5 percent year-on-year.

The figure was confirmed by Macau’s Gaming Inspection and Coordination Bureau, beating analysts median growth estimates by four percent.

However, while November was Macau’s 28th consecutive month of growth, it also marked the third month in a row which saw only single-digit growth.

September and October were the sector’s weakest months in more than two years, as the VIP sector increased by 10 percent while the mass market grew by seven percent.

Analysts at Sanford C. Bernstein believe that December GGR could see growth of eight percent year-on-year.

Despite this, UnionGaming’s Grant Govertsen cautioned that “the December calendar is unfavourable, with one fewer Friday”.

“Looking ahead to the first quarter of 2019, we expect a slow start to the year, with the whole of the first quarter of 2019 at plus three percent, before picking up into the mid-single-digits post-first-quarter,” he clarified.