{"id":116123,"date":"2019-10-01T09:30:50","date_gmt":"2019-10-01T16:30:50","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=116123"},"modified":"2019-10-01T10:03:28","modified_gmt":"2019-10-01T17:03:28","slug":"macau-casinos-post-lowest-gross-gaming-revenue-win-in-12-months","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/macau-casinos-post-lowest-gross-gaming-revenue-win-in-12-months\/","title":{"rendered":"Macau Casinos Post Lowest Gross Gaming Revenue Win in 12 Months, Headwinds Remain in Final Quarter"},"content":{"rendered":"

Macau casinos recorded their lowest monthly haul in a year, as September gross gaming revenue (GGR) came in at just MOP22.1 billion ($2.7 billion), a small 0.6 percent year-over-year bump.<\/p>\n

\"Macau
The opulent Macau casinos on the Cotai Strip aren’t welcoming as many high rollers as they once did. (Image: Macau News)<\/figcaption><\/figure>\n

September should have been an easy comparable, as the month in 2018 was hampered by Typhoon Mangkhut. The tropical cyclone forced casinos to close for 33 hours \u2013 the first in the gambling mecca’s history.<\/p>\n

Despite more than a day short of GGR in 2018, casinos faced new challenges last month. A weakening Chinese economy, the ongoing US and China trade war, and social unrest in nearby Hong Kong all slowed casino activity.<\/strong><\/p>\n

However, September essentially fell in line with the median gaming industry expectations, which predicted one percent growth.<\/p>\n

Difficulties Ahead<\/b><\/h2>\n

To put September 2019 into perspective, the last time Macau casinos saw GGR dip below MOP22 billion came a year ago this month. September 2018 was the region’s worst gaming win month since September 2017, when the floors kept MOP 21.36 billion.<\/p>\n

\n

Through three quarters of 2019, Macau casino win stands at $27.34 billion \u2013 a 1.7 percent decrease. Five of the nine recorded months saw GGR reduced compared to the same months in 2018. The biggest loser came in August, when win dropped 8.6 percent<\/a>.<\/p>\n<\/div>\n

It’s expected to only get worse before it gets better.<\/p>\n

October kicks off with the annual Golden Week holiday, but analysts aren’t optimistic for the week-long celebration. Reduced VIP traffic has led to casinos handing out more comps<\/a> and incentives to customers in the mass market segment.<\/p>\n

“Room comps will be high \u2026 but likely go to an average lower-spend customer than in 2018,” analysts at Sanford C. Bernstein explained.<\/p>\n

Those same analysts said VIP revenue declined 12-14 percent last month, while mass play increased 11-13 percent. Looking ahead, Bernstein is forecasting GGR to decline three to six percent in October.<\/p>\n

\n

With Golden Week leading off the month, the trend so far is not looking too optimistic, based on our recent conversations with industry participants in Macau,” the firm stated.<\/p>\n<\/blockquote>\n

The Macau Tourism Office is expecting visitor arrivals to increase 15 percent on 2018’s Golden Week total of 890,000. The surge comes not from the high roller, but the VIP. Last October’s opening of the 34-mile Hong Kong to Macau bridge slashes automobile travel time between the two Special Administrative Regions from around four hours to just 35 minutes.<\/p>\n

A room search for Wednesday through Sunday found no availability at The Venetian and Parisian, Morpheus, and Wynn Palace. Occupancies were available at City of Dreams, MGM Macau, and MGM Cotai.<\/p>\n

Stock Reaction<\/b><\/h2>\n

Stocks of the six licensed casino operators \u2013 Sands, Wynn, MGM, Galaxy, SJM, and Melco \u2013 didn’t trade on Tuesday due to the Golden Week holiday closure of the Hong Kong Stock Exchange.<\/p>\n

In the US, the four traded casino companies saw mixed results. Sands, MGM, and Melco were all relatively flat in morning trading. Wynn was up 1.3 percent as of noon.<\/p>\n","protected":false},"excerpt":{"rendered":"

Macau casinos recorded their lowest monthly haul in a year, as September gross gaming revenue (GGR) came in at just MOP22.1 billion ($2.7 billion), a small 0.6 percent year-over-year bump. September should have been an easy comparable, as the month in 2018 was hampered by Typhoon Mangkhut. The tropical cyclone forced casinos to close for […]<\/p>\n","protected":false},"author":25,"featured_media":116128,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\nMacau Casinos Post Lowest Gross Gaming Revenue Win in 12 Months<\/title>\n<meta name=\"description\" content=\"Macau casinos recorded their lowest monthly haul in a year, as gross gaming revenue came in at just $2.7 billion, a small 0.6 percent year-on-year bump.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macau Casinos Post Lowest Gross Gaming Revenue Win in 12 Months\" \/>\n<meta property=\"og:description\" content=\"Macau casinos recorded their lowest monthly haul in a year, as gross gaming revenue came in at just $2.7 billion, a small 0.6 percent year-on-year bump.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/macau-casinos-post-lowest-gross-gaming-revenue-win-in-12-months\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-01T16:30:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-10-01T17:03:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/10\/Cotai.jpg.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Devin O'Connor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CasinoorgDevinO\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Devin O'Connor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-casinos-post-lowest-gross-gaming-revenue-win-in-12-months\/\",\"url\":\"https:\/\/www.casino.org\/news\/macau-casinos-post-lowest-gross-gaming-revenue-win-in-12-months\/\",\"name\":\"Macau Casinos Post Lowest Gross Gaming Revenue Win in 12 Months\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-casinos-post-lowest-gross-gaming-revenue-win-in-12-months\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-casinos-post-lowest-gross-gaming-revenue-win-in-12-months\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/10\/Cotai.jpg.jpg\",\"datePublished\":\"2019-10-01T16:30:50+00:00\",\"dateModified\":\"2019-10-01T17:03:28+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\"},\"description\":\"Macau casinos recorded their lowest monthly haul in a year, as gross gaming revenue came in at just $2.7 billion, a small 0.6 percent year-on-year bump.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-casinos-post-lowest-gross-gaming-revenue-win-in-12-months\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/macau-casinos-post-lowest-gross-gaming-revenue-win-in-12-months\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-casinos-post-lowest-gross-gaming-revenue-win-in-12-months\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/10\/Cotai.jpg.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/10\/Cotai.jpg.jpg\",\"width\":1200,\"height\":800,\"caption\":\"The opulent Macau casinos on the Cotai Strip aren't welcoming as many high rollers as they once did. 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