Brokers predict sharp gambling revenue drop in Macau

Business | 19 Nov 2019 6:34 pm

Brokers are lowering their revenue growth forecast of Macau's gambling industry in November, as Hong Kong's protests has cast a shadow on tourism.

Jefferies estimates gambling revenue in Macau will drop by 10-13 percent year-on-year in November, compared with its previous forecast of a decline of between 8 percent and 12 percent, as more tourists are canceling trips.

Citibank expects the year-on-year drop to deepen to 10 percent from 8 percent.

Bernstein said revenue will fall by 10-13 percent year-on-year in November, compared with the previous estimate of a drop of between 6 percent and 10 percent.

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