Macau registers highest GGR tally since October 2014

Macau’s casinos gross gaming revenue (GGR) has surprised analysts for the 15th consecutive time after posting a 22.1 percent increase in October.

Some casino stocks traded in the green on Wednesday after Macau’s Gaming Inspection and Coordination Bureau (DICJ) announced that Macau chalked a MOP26.63 billion (US$3.31 billion) worth of GGR, the highest monthly GGR tally since October 2014.

Analysts had earlier estimated Macau’s GGR for October to be between 19 percent and 21 percent.

“Our latest consultant checks point to a noticeable pickup in demand following the 19th Party Congress in China, with VIP and mass revenue up about 30 percent and 9 percent year-over-year, respectively,” Nomura analyst Harry Curtis said in a research note Tuesday.