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Home›Macau›VIP to recover in third quarter, says Morgan Stanley

VIP to recover in third quarter, says Morgan Stanley

By -
Tuesday, May 7, 2019
106
0

Banking group Morgan Stanley anticipates a recovery in Macau VIP betting revenue in the third quarter of this year. Morgan Stanley Asia added in its recent note on the VIP segment that a market consensus might be wide of the mark.

For GGRAsia, this suggests that “the high-roller business slowdown in the city might be linked to cannibalization of the market due to improved casino product in other regional destinations.”

The note, argues that “Cambodia and the Philippines VIP business have grown significantly in the last two years and might give an impression that they are taking share from Macau. However, if we add Singapore, Australia and Saipan, we realise that the percentage of VIP revenue from regions (other than Macau) has remained fairly stable at around 30 percent of the total VIP revenue in Macau. Thus, one cannot blame overseas leakage for recent Macau VIP revenue growth slowdown.”

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