Macau November report: GGR up 14.9%, year-to-date totals MOP 208.6bn
Despite year-on-year growth, the month’s GGR was one of the lowest reported so far this year.
Key points:
– GGR for November totalled MOP 18.4bn
– Month-on-month, this reflects a dip of 11.5%
The Gaming Inspection and Coordination Bureau (DICJ) has reported Macau’s gross gaming revenue (GGR) for the month of November. In total, GGR came to MOP 18.4bn ($2.3bn), up 14.9% year-on-year, with total GGR for the year so far coming to MOP 208.6bn, up 26.8% from the same 11-month period this time last year.
Compared to other months this year, November was at the lower end of monthly earnings, with only June and September earning less at MOP 17.7bn and MOP 17.3bn respectively.
October was the highest earning month of the year so far, making MOP 20.8bn. This was due to several factors, including the National Golden Week holiday in China, which typically boosts tourism in Macau. As such, month-on-month, revenue fell 11.5%.
On a year-to-date basis, growth has slowly declined over the year, due to the high year-on-year revenue growth at the start of the year. Year-on-year revenue in January, February and March was up 67%, 79.1% and 53.1% respectively, while from June onwards, growth has not exceeded 20%. As such, year-to-date revenue has dropped from a high in February of 72.7% to 26.8% by November.
During the month
During November, a range of operators in Macau posted their Q3 revenue reports. Their results, for the most part, reflect similar growth to the region as a whole.
Galaxy Entertainment saw revenue up 11% year-on-year, totalling HK$10.7bn (US$1.36bn) for the quarter. Melco’s revenue came to $1.18 bn, up 16% year-on-year, with Studio City’s revenue in particular making $335.5m, up 26.8% year-on-year.
Further analysis can be found in GI Friday.
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