Macau casinos suffer biggest GGR fall of 2019 for August
Gross gaming revenue (GGR) in Macau fell 9% year-on-year for August, to MOP24.26bn ($2.99bn), representing the region’s biggest percentage drop in 27 months.
Macau casinos saw GGR decline for the second month in a row and fifth overall so far in 2019, leaving accumulated gross revenue at MOP198.2bn, a 2% fall.
The impact of Typhoon Lekima slowing visitation levels was an unfortunate one-off circumstance for the casino sector.
However, more pronounced factors such as ongoing protests in Hong Kong, a slowing Chinese economy, the US-China trade war and continued regulatory pressure on junkets are harder to ignore for Macau’s operators.
Declining VIP revenue is also a concern for Macau, as casinos prepare to focus more on the mass market.
In their Q2 reports, various operators reported falls in VIP revenue, including Wynn Resorts.
June’s performance, when Macau casinos saw GGR grow 6%, remains the peak for 2019, while April and August were particular low points, with GGR falling over 8%.
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