MACAU BUSINESS VIP and mass
‘VIP growth clearly continues to accelerate,’ note the Union Gaming analysts, pointing to ‘the easiest comps (comparisons) of the year’ as one of the main factors. ‘We expect VIP to come out slightly ahead in terms
of growth rates in the second quarter. However, we expect the difference to be marginal (VIP +24 per
cent, mass +20 per cent),’ state the analysts, pointing out in addition that they ‘are not seeing any material impact from the recent installation of KYC (know your customer) measures across Macau’s ATM machines’. For the second quarter, analysts at Deutsche Bank
note that ‘we expect headline DICJ reported VIP growth, though misleading, will be up more than 30 per cent when reported on or around July 17th’.
Gross gaming revenues: up, up and away
T
he MSAR raked in MOP22.96 billion (US$2.86 billion) in gross gaming revenue in July, the latest official figures released by the Gaming Inspection and Co-ordination Bureau (DICJ) show.
The July numbers represent a 29.2 per cent year-
on-year increase in gross gaming revenues, the 12th consecutive month of increases registered in the city and the largest yearly rise since February 2014. According to a survey by news agency Bloomberg of nine analysts, the expected median growth consensus was set at a 26 per cent hike, with news agency Reuters saying analysts were estimating a yearly rise of between 27 and 30 per cent. Accumulated gross gaming revenue for the first
seven months of 2017 went up 18.9 per cent year-on- year to reach MOP149.34 billion. On a monthly comparison, gross gaming revenues
in July went up by 14.9 per cent from the MOP19.99 billion registered in June.
22 AUGUST 2017 According to gaming analyst Vitaly Umansky of
Bernstein, the average daily revenue (ADR) for July was MOP741 million, an 11 per cent month-to- month increase from June’s ADR of MOP666 million. According to news agency Reuters, the resurgence in spending by VIP gamers and the increase in tourist numbers contributed to the results registered in July.
Living on the edge
Despite the increase in VIP gaming results and the opening of new gaming facilities having helped bring players back to Macau, analysts still feel efforts by the Chinese central government to stop capital outflows from the country could pose a future risk to Macau’s gaming sector. “Risk of heightening enforcement and potential
policy pressures we had flagged have certainly not gone away,” Daiwa Capital Markets Hong Kong Ltd. analyst Jamie So told Bloomberg.
By Nelson Moura with agencies
Gross gaming revenues in July rocketed 29.2 per cent year-on-year to reach MOP22.96 billion, the highest yearly increase since February 2014
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