Macau’s Gaming Inspection and Coordination Bureau has posted year-on-year gross gaming figures for the month of July. To no one’s surprise, the gaming industry marked its 14th straight month of decline, dropping 34.5 percent to MOP18.62 billion (US.33 billion). The accumulated GGR for the past seven months is down 36.7 percent, to MOP140.26 billion.
Bernstein Research analyst Vitaly Umansky said the news from the world’s No.1 gaming destination is heartening, despite the decline. “While July is typically expected to have some seasonality uptick from June, we believe that this month has shown an important sign of stabilization and improvement as the market looks to bottom out,” Umansky said.
Sands China gained the most market share and SJM lost the most. “We continue to favor Sands China on the back of its critical mass garnered from the interconnected casino resorts in Cotai, as well as its operational and marketing acumen to weather the challenges in the market,” said Umansky.
A report in Bloomberg News cited more relaxed visa rules as one reason for the improved outlook.