Seaport forecasts Macau gaming revenue to fall 6.1% in November

Macau’s gross gaming revenue (GGR) is expected to decline by 6.1% year-on-year in November , marking a sixth consecutive month of contraction , as weaker demand continues to weigh on the market, according to Seaport Research Partners. The forecast follows data from Macau’s Gaming Inspection and Coordination Bureau (DICJ), which showed that gaming revenue fell 10% year-on-year to MOP$21.7 billion (US$2.69 billion) in October . Seaport Senior Analyst Vitaly Umansky said weaker demand remains evident in the higher-end gaming segment , attributing the softness to weaker macroeconomic conditions in China, falling stock market valuations and government tax enforcement targeting offshore…