Industry analysts are expecting Macau’s gross gaming revenues to reach a new six-year high in October, with estimated growth of around 13% year-on-year to be supported by continued easing of travel and visa requirements in mainland China and a robust Macau events calendar.
After the Gaming Inspection and Coordination Bureau revealed Wednesday that September GGR had fallen slightly short of consensus at MOP$18.3 billion (US$2.28 billion), analysts explained that the recent Super Typhoon Ragasa was largely to blame for the decline with JP Morgan estimating as much as 10% was shaved from the monthly total given the temporary shutdown of casinos, widespread flight and train cancellations and the closure of Hong Kong airport. Macau lost roughly three weekdays’ worth of revenues, the investment bank stated, implying September would have “easily delivered double digit growth absent the storm”.
