Macau (MNA) – Research reports by Deutsche Bank and Bernstein forecast softer gross gaming revenue (GGR) in the Macau SAR for February, after a strong head start in January shown in official figures on Thursday.
Bernstein estimates that GGR for February will grow by around 20 per cent, impacted by Chinese New Year celebrations, as usually happens.
Deutsche Bank considers that while Chinese New Year ‘generates a lot of hype, the month around the holiday has often tended to bring about disappointment as the periods into and post the holiday tend to offset the primarily mass strength during the holiday.’ Hence they forecast GGR for the January/February period to be up 18.1 per cent year-on-year.
Despite January’s GGR exceeding expectations, Bernstein sent a cautious message as ‘rates in VIP along with continued volume strength creates volatility and lack of ability to more accurately forecast the monthly trend.’
On Thursday, Macau SAR official data released by regulators reported that January GGR grew 36.4 per cent to MOP26.26 billion, as MNA reported.