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The world's largest gambling destination saw growth in October, but the amount of growth was slower than analysts predicted.
The gross gaming revenue (GGR) was up 2.6% to $3.4 billion USD, down 0.2% from the month prior. That may not seem like much, but seeing as how September had to deal with Typhon Mangkhut, which shut down casinos for a day, the results are a bit more concerning. Analysts say that a visit from Chinese President Xi Jinping did have an impact on traffic, as movement for punters is restricted. The month also comes after the lengthy holiday period in September, which gave visitors extra time to visit the island. The trade war between the U.S. and China is also likely having a negative impact on the industry.
An analyst gave some insight into the results, noting: "Historically, holiday periods like October's Golden Week and Chinese New Year were massive VIP-centric months with notable GGR swings. However, with VIP never having accounted for a lower mix of GGR than today (we estimate only 45% in 3Q18), the traditional holiday volatility is receding and should continue to recede, especially with VIP under-performing mass market for the time being. With this in mind, and considering that VIP last year not only represented a greater mix of GGR but was also growing faster than mass, this resulted in a particularly tough situation beyond the headline +22% comp."
It's predicted that November will bring a rebound for Macau, with experts predicting a bump in the 8% range for the month.
As always, Casino Listings News will report on the results at the beginning of December.