Macau October gaming revenue probably up max 4%

MOP as at Oct 28 hits MOP25.3bn.

According to Nomura Research, the first 28 days of October delivered MOP25.3bn, which implies a mtd run rate of ~MOP 897mn/day. Normalization continues into 2H post the Golden Week period.

"Our analysis of industry data suggests that the third week (ie, week of 15 October) slowed down somewhat, but the blended run rate in the past two weeks still came in slightly ahead of the immediate week post the holiday period," it said.

Factoring past two weeks’ data, nomura said that  the daily run rate continues to suggest that the full month of October could come in within the range of MOP27- 28bn (+1% to 4%y-y).

"SJM and Sands China took away approximately 1% each of market share from Wynn Macau and MPEL in the first 28 days of October due to
the win rate fluctuation, according to our estimates.," sai Nomura.