Macau's GGR slips nearly 9% in August

Macau casino GGR down 9pct in August govt

Macau GGR tumbles 8.6% in August

In month-to-month terms, August represented a slowdown of less than 1 per cent compared with July, while it stood about 4.3 per cent lower than gross gaming revenue in February, six months earlier.

Gambling revenue in the Chinese territory of Macau dropped 8.6% in August on the year, hit by tapering demand from high rollers, due to slowing economic growth amid China's trade war with the United States and protests in neighbouring Hong Kong.

In the eight months that have been completed this year, five haven't been kind to Macau's casinos.

According to Macau Daily Times, the sector is also thought to have been unscathed by the ongoing protests and travel disruptions in nearby Hong Kong, as well as regulatory uncertainty over high-roller junkets, which faced increased scrutiny from Beijing and Macau over the summer.

According to the Macau Gaming Inspection and Coordination Bureau, there were 41 casinos at the end of the first quarter of the year, hosting 6,734 gaming tables and 17,638 slot machines in total.

The ongoing protests in Hong Kong are also having an impact on the gambling activity across Macau, although the casino industry has not yet been hit seriously by the violence in the neighboring special administrative region. Overnight visitors have fallen as a proportion of the total since the opening of the Hong Kong-Zhuhai-Macau Bridge last October spurred a flood of mainland bridge tourists who don't spend much but add to congestion.

Casino stocks have been volatile over the past few months.

Macau casinos saw GGR decline for the second month in a row and fifth overall so far in 2019, leaving accumulated gross revenue at MOP198.2bn, a 2% fall.

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