The over 35 casinos in Macau reportedly experienced a disappointing November after chalking up an 8.5% year-on-year decrease in aggregated gross gaming revenues to slightly over $2.83 billion.
According to a Sunday report from Inside Asian Gaming citing official figures from the enclave’s Gaming Inspection and Coordination Bureau, the November figure was the year’s second lowest and followed an October in which the combined tally had fallen by a comparable 3.2% to approximately $3.27 billion.
The November figure also means that Macau has now experienced comparable declines in aggregated gross gaming revenues for seven of the year’s eleven months with the year-to-date tally currently standing some 2.4% lower at about $33.43 billion.
Macau is home to some of the world’s largest and most famous gambling venues including the iconic Casino Grand Lisboa from SJM Holdings Limited as well as Melco Resorts and Entertainment Limited’s Studio City Macau while November moreover reportedly saw the city’s casinos record a 25% deterioration in revenues from VIP gamblers alongside an associated 5% to 7% corrosion in associated takings from the mass-market segment.
However, Inside Asian Gaming reported that the November result was not all bad news as some analysts had earlier predicted that aggregated gross gaming revenues for the 30-day month could deteriorate by as much as 15% to around $2.63 billion.
In addition, Hong Kong-based brokerage firm JP Morgan Securities (Asia Pacific) reportedly detailed that casinos in Macau had managed to record average daily aggregated gross gaming revenues for November of just over $94.62 million, which it declared ‘wasn’t too bad’ and was in keeping with the ‘seasonally solid third quarter’ figure of $95.49 million ‘despite disruptions from significant social unrest in Hong Kong as well as some visa control in Macau towards the end of the month.’