November gaming results disappointing so far – Brokerage

Analysts at Sanford C. Bernstein indicated in a note that gaming results on November 1-15 have been ‘disappointing’ so far, with average daily revenue lower than in the previous month.

Between November 1 and 15 some MOP3.3 billion in gaming revenue were reported according to the brokerage, with average daily revenues at MOP220 million, some 6 per cent lower than the same period in October and 71 per cent year-on-year.

It is important to note that the October Golden Week period went from October 1 to 8.

Daily entries and departures in the city have reached some 40,000 per day, with Benstein expecting visitation to continue improving in the next weeks and months as visa processing improves over time.

‘The key jump in visitors will come when visa processing becomes same day or via e-kiosk again, which may take some time,’ the brokerage noted.

Bernstein estimates November will end with a 60 per cent year-on-year drop in gaming results depending on improvements on tourism visa processing after October saw a 72 per cent plunge.

Meanwhile, 2020 is expected to end with a 70 per cent drop from the MOP292.4 billion reported the year prior.