Nomura, Bernstein see lower GGR for typhoon-hit Macau

Financial research firms Nomura and Sanford C. Bernstein projected lower gross gaming revenue (GGR) in Macau for the month, in the wake of Typhoon Mangkhut which struck during the weekend and led to the closing of casinos for more than a day.

According to GGRAsia, Instinet, a Nomura company, reported it had adjusted its forecast of Macau GGR for September, to MOP23.44 billion ($2.9 billion), lower than its original forecast of MOP24.5 billion ($3 billion). The adjusted forecast is still 10% higher than September last year.

In spite of the changes, Instinet did not update its forecast for the third quarter. “Typhoons tend to interrupt travel for short periods but, consistent with past instances, they do not change underlying demand trends,” it said.

Sanford Bernstein, on the other hand, forecast GGR in the range of MOP21.3 billion ($2.6 billion) to MOP22 billion ($2.7 billion) for this month, about 8% lower than its earlier projection. The updated figures are 0%-3% higher than the same period last year.