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Macau casino revenue rises less than expected in June

Gros

Macau
s gaming revenue (GGR) in Macau reached MOP19.9bn (US$2.5bn) in June, representing a year-on-year growth of 25.9%, according to the city’s Gaming Inspection and Coordination Bureau.

Accumulated gross revenue for the first half of 2017 reached MOP126.4bn ($15.7b), up 17.2% compared to the prior-year period.

This was the eleventh consecutive month of gaming revenue growth in Macau’s market, as well as the biggest increase in year-on-year terms since February 2014.

However, the results came short of analysts’ expectations, which forecasted around 30% year-on-year growth in June.

Brokerage Union Gaming said in a note on Saturday that the monthly tally missed “elevated consensus on a late June slowdown.”

“We would attribute the delta primarily to People’s Republic of China President Xi Jinping’s visit to Hong Kong that is currently underway,” analysts from Union Gaming told Asia Gaming Brief.

“We note that Hong Kong has been in a state of virtual lockdown over the last several days and this likely had the effect of curtailing high-end visitation to Macau during this period.”

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