The Asian branch of global brokerage firm, Sanford C Bernstein and Company, has reportedly predicted that the 38 casinos in Macau are set to post July aggregated gross gaming revenues that are between 2% and 4% higher than they were a year ago.
According to a Tuesday report, the Hong Kong-headquartered entity estimated that the city had recorded almost $1.43 billion in aggregated gross gaming revenues over course of the first two months of July courtesy of a daily average rate that stood at slightly over $102 million.
In a Monday note, Sanford C Bernstein and Company reportedly also explained that this daily quotient for Macau’s many casinos represented an equivalent pace when compared with the same month in 2018 although it was approximately 3% higher than June’s rate.
Regarding the activities that are bringing in this cash, the analysis reportedly moreover forecast that July’s aggregated gross gaming revenues from VIP play are expected to be down by a ‘mid-single digits’ percentage when compared with the previous month off of a hold rate that is to be ‘towards the lower end of the normalized range’. But, the breakdown purportedly furthermore envisioned that takings from the mass-market segment would move in to fill this deficit and give the 31-day month an eventual combined final figure of between $3.21 billion and $3.27 billion.
GGRAsia reported that Japanese financial services firm Nomura Holdings Incorporated used its own Monday advice to broadly concur with its counterpart’s daily average rate estimate for July. However, it additionally purportedly predicted that the proportion of Macau’s monthly aggregated gross gaming revenues that will have come from mass-market play is to be ‘up about 5% to 6% sequentially versus the average in June.’
Nomura Holdings Incorporated reportedly also advised that the two-week hold percentage for casinos in Macau stood at between 2.8% to 2.9%, which was is in line with the normalized range of 2.7% to 3%, although it calculated that VIP play could eventually post a figure that is up to 5% lower month-on-month. The Tokyo-based enterprise purportedly finished by detailing that it expects the former Portuguese enclave post an up to 5% rise year-on-year in July aggregated gross gaming revenues to between $3.23 billion and $3.35 billion.