sands, sjm, galaxy top market | Casino revenues set for a 23 pct tumble in October

Macau casino revenues are set to decline by over 23 per cent year-on-year according to data collected by MDT/Lusa, and considering the takings of operators such as Sociedade de Jogos de Macau and MGM China.
The figures show that the casino turnover in October is not expected to break MOP 27.9b, an annualized fall of over 23%.
With the drop in October signaling the fifth consecutive month of year-on-year declines in Macau gaming revenues, the ten-month accumulated total stands at just over MOP 303.5b nevertheless still 2% up on the same period of last year.
While the official data for the local gaming sector for October is only released today, figures suggest revenues of somewhere between MOP27.5 and MOP27.9b, well off the MOP36.477b returned in October 2013.
The October decrease in casino earnings exceeds forecasts made in the middle of the month due to a significant fall in the average takings over the last fortnight. “Despite being a traditionally strong month and with 31 days, what we are verifying here is a sharp and generalized drop in revenues and this is a fact common to all operators,” a source at Sociedade de Jogos de Macau told Lusa.
The same unnamed source added that for 2014 as a whole, the turnover is likely to be less than that of 2013 “even if only slightly, by a significant amount”.
“There are no new casinos, there are no new attractions and the market is also undergoing sporadic fluctuations which operators shall have to respond to,” he added.
The data compiled by MDT/Lusa also includes forecasts of the earnings by operators and also suggests that Las Vegas Sands will return to the forefront in terms of market share, closely followed by Sociedade de Jogos de Macau who will be slightly ahead of Galaxy Resorts in third place this month.
In the second half of the table, Melco Crown maintains its advantage over the competition provided by MGM China and Wynn Resorts, both with very similar market shares. MDT/Lusa