In line with forecasts, year on year gambling revenues in Macau were down 33 per cent in September.
According to figures from the gambling regulator, gross gaming revenue in the month was $2.14bn, down from $3.19bn in September 2014. For the year to date, gross gaming revenue is down 36 per cent.
In a note, a Deutsche Bank analyst wrote: “While the September result is the smallest level of decline since January, one would be hard pressed to call it encouraging,” adding that they expected a decline of about 27 per cent for October.
Given trends in the market, Deutsche Bank still believes that projections for 2016 are higher than they should be: “Assuming limited aggregate incremental demand from the Studio City opening in late October and barring an unforeseen turnaround in the market, we believe the [first quarter of 2016] is poised to start the year with, at minimum, a high teens year-on-year decline and hence we continue to find expectations for growth in 2016 to be unrealistic.”
Source: Asia Gaming Brief
