Analysts predict limited growth of Macau's GGR in 2019
- Category: Pics |
- 5 Dec, 2018 |
- Views: 2511 |
Next year, Macau expects GGR growth in just a few percent. According to report of the Fitch Ratings Inc., productivity will be enhanced by increased revenues from the recently opened Cotai Morpheus and MGM Cotai, as well as the Grand Lisboa Palace.
The forecasts are included in the Fitch Ratings 2019 Outlook: Global Gaming report for the Asia-Pacific region. The rating agency highlighted the vulnerability of Macau’s gambling business to the slowdown of mainland China’s economy. The PRC is the most significant market for a special administrative region.
The forecast for Macau's GGR in 2019 reflects a long-term positive outlook. – Fitch Ratings Agency.
The Grand Lisboa Palace (Macau SJM Holdings Ltd) will contribute to the growth of GGR 2019, increasing the pace of development of MGM Cotai (MGM China Holdings Ltd) and Morpheus hotel tower City of Dreams (Melco Resorts Entertainment Ltd).
It is expected that infrastructure project, namely the bridge connecting Hong Kong and Zhuhai, will also have a positive effect on Macao’s financial success.
The slowdown in the development of the VIP segment, described by the agency as more sensitive to China's macroeconomic indicators, will continue in 2019. However, not only Macao, but also Singapore will suffer from this influence.
According to the Macau Statistics and Census Service (DSEC), income from direct investment in gambling reached $4.7 billion in 2017, which shows an increase of
34.5%.
More news related to gambling you can find at BGAOC website.