The latest estimates tracking performance in July 2019 show that revenues are roughly in line with those of the same month last year. Still, the average daily rate of MOP821 million (USD 102 M) over the first two weeks of the month indicates a rise of about 3% compared to June.
Credit Suisse said that Macau’s tougher measures on online gambling were beneficial to local casino operators and Macau gaming stocks were higher this week.
This came even as Goldman Sachs rebutted the connection, saying that less business for online casinos based in Southeast Asia would not necessarily translate into more business for the Macau SAR, Macau Daily Times reports.
“We do not believe stopping proxy betting in the Philippines or Cambodia would necessarily result in gaming volume being repatriated back to Macau,” Goldman Sachs said.
“Some of these [Chinese] players who participate in proxy betting in the overseas markets may have difficulty securing visas to travel abroad – whether it is Macau [or elsewhere].”
The latest estimates tracking performance in July 2019 show that revenues are roughly in line with those of the same month last year. Still, the average daily rate of MOP821 million over the first two weeks of the month indicates a rise of about 3% compared to June.
Meanwhile, according to data released on Tuesday by the Gaming Inspection and Coordination Bureau, the VIP gaming segment continued its decline in the second quarter of 2019.
Gaming revenue from VIP baccarat declined 15.6% compared to the second quarter in 2018, while the mass segment, including slot machine earnings, climbed 18.6% over the same period. Mass-market baccarat led the increase, with growth of 22.8%.
Baccarat is by far the most popular game of chance in Macau. Last year, VIP and mass baccarat accounted for about 88% of the city’s total revenue.
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