That would take total gross gaming revenue to less than the official 216 billion patacas forecast, and is significantly less than what international firms predict.
Macao GGR
Chief Executive Ho Iat Seng confirmed the estimate during yesterday’s celebrations marking Macao SAR Establishment Day.
The dip was anticipated by the gaming sector, given that October’s figure reflected the ‘golden week’ holiday windfall.
By the end of October, the government’s income from gaming taxes had already edged past its target for the whole year.
The latest figure reflects the gaming bonanza brought about by October’s “golden week” holiday, when the city welcomed almost a million visitors.
Although mainland China’s economy is faltering, the credit agency backs Macao to perform better than expected in 2023.
JP Morgan says the third-quarter result would have been even better without the stormy weather that swept Macao in September.
Analysts have been concerned about the bottom-line impact of the severe weather experienced in the month by Macao, which was battered by a typhoon and heavy rain.
Macao’s concessionaires will have to increase their spending on non-gaming facilities if gross gaming revenue crosses a certain threshold this year.