{"id":4193,"date":"2019-04-17T11:07:21","date_gmt":"2019-04-17T11:07:21","guid":{"rendered":"https:\/\/www.top10casinowebsites.net\/news\/?p=4193"},"modified":"2019-04-17T11:07:23","modified_gmt":"2019-04-17T11:07:23","slug":"macau-to-witness-drop-in-ggr-in-april-but-to-rebound-quickly","status":"publish","type":"post","link":"https:\/\/www.top10casinowebsites.net\/news\/macau-to-witness-drop-in-ggr-in-april-but-to-rebound-quickly\/","title":{"rendered":"Macau To Witness Drop In GGR In April But To Rebound Quickly"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"alignright is-resized\"><img decoding=\"async\" src=\"https:\/\/www.top10casinowebsites.net\/wp-content\/uploads\/2016\/03\/macau-casinos.jpg\" alt=\"Macau\" width=\"300\"\/><\/figure><\/div>\n\n\n\n<p>Based on projections made by <a href=\"https:\/\/www.instinet.com\">Nomura Instinet LLC<\/a>, Macau\u2019s <strong>gross gaming revenue (GGR) in April will be between MOP24 billion and MOP25 billion<\/strong>. This is a drop from the previous year\u2019s April GGR of MOP25.7 billion. However, it\u2019s not all bad news. The brokerage firm predicts that the gaming market will recover soon after.<br><\/p>\n\n\n\n<p>This new projection comes after the data from the second week of April has come in. Nomura puts the current GGR for Macau at around MOP729 million a day for the second week of April. Combined with the first week, the average GGR is now MOP743 million a day. The data shows that the GGR is notably lower than previous year\u2019s GGR by 11 percent.<br><\/p>\n\n\n\n<p>In a statement, <strong>Harry Curtis, Daniel Adam and Brian Dobson<\/strong>, all analysts from Nomura, wrote <\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>By segment, we estimate that: average daily mass revenues were about 5 percent to 7 percent lower than the average in March, VIP hold percentage was about 3.1 percent (versus the normalised hold range of 2.7 percent to 3 percent), and VIP volume growth is tracking about 5 percent to 7 percent lower sequentially versus last month\u2019s average.<br><\/p><\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Another Projection<\/strong><br><\/h2>\n\n\n\n<p>It is not just Nomura predicting a drop for Macau\u2019s GGR. <a href=\"https:\/\/www.bernstein.com\">Sanford C. Bernstein Ltd<\/a> also revised its GGR estimates for April. They <strong>expect Macau casinos to record a loss of 9 to 12 percent in April<\/strong> compared to earlier estimates. Sanford analysts have also made their estimates based on the lower GGR collected in the first two weeks of April.<br><\/p>\n\n\n\n<p>According to Sanford\u2019s data, the current GGR is at the rate of MOP729 million a day. This is 14 percent lower than last year\u2019s GGR. However, Sanford Bernstein did point out that last year\u2019s GGR tally for April would be hard to beat.<br><\/p>\n\n\n\n<p>However, gaming analysts are predicting a recovery for Macau\u2019s gaming industry. They say that the month of May will see changes in the market, mainly due to a recovering credit cycle in China. This can potentially fuel VIP guests to visit Macau and boost gaming revenues. This comes as no surprise as Chinese high rollers are one of the main sources of revenue for Macau casinos. <br><\/p>\n\n\n\n<p>Analysts also estimate that VIP hold rate will stabilize as the year progresses. The high VIP hold rates have stabilized in March, while the number of VIP guests have been dropped down to single digits. <\/p>\n\n\n\n<p>It will be interesting to see whether the predictions hold or <a href=\"https:\/\/www.top10casinowebsites.net\/news\/chinese-regulations-predicted-to-slow-down-macau-vip-gambling-in-2018\/\">whether Macau will continue to suffer a drop in VIP revenue<\/a> and GGR.<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Based on projections made by Nomura Instinet LLC, Macau\u2019s gross gaming revenue (GGR) in April will be between MOP24 billion and MOP25 billion. This is a drop from the previous year\u2019s April GGR of MOP25.7 billion. However, it\u2019s not all bad news. The brokerage firm predicts that the gaming market will recover soon after. This [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-4193","post","type-post","status-publish","format-standard","hentry","category-industry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Macau To Witness Drop In GGR In April But To Rebound Quickly<\/title>\n<meta name=\"description\" content=\"Based on projections made by Nomura Instinet LLC, Macau\u2019s gross gaming revenue in April will be between MOP24 billion and ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.top10casinowebsites.net\/news\/macau-to-witness-drop-in-ggr-in-april-but-to-rebound-quickly\/\" \/>\n<meta property=\"og:locale\" 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