Fitch forecasts low single digit growth in 2020

Fitch Ratings says it expects Macau gross gaming revenue growth to be in the low single digits in 2020, with strength in the mass market offsetting flat VIP growth. 

Mansfield noted that the U.S. China trade war has continued to impact VIP in Macau, adding there was a further downside risk should the trade tensions intensify in the next year. 

However, Mansfield also noted that new supply, wealth creation, and higher visitation has helped to boost the mass market in the last year. 

“We see the mass market as a longer-term positive that’s impacted by things like growing wealth creation in China, and infrastructure improvements in the Greater Bay Area,” said Fitch analyst Colin Mansfield in an interview with CNBC.