World Cup seen denting Macau GGR

    The 2014 FIFA World Cup is expected to dent gross gambling revenue in Macau over the next few months, providing a distraction for gamblers, analysts say.
    Nomura said it sees “limited upside catalysts” for the casinos in the territory over the next two months, with the soccer championship set to kick off in Brazil on June 12 and run through to July 13.
    Credit Suisse says the distraction of the football World Cup could curb GGR by between 1 percent and 6 percent, while Goldman Sachs has also warned gambling revenue may be sluggish partly because of the games.
    The firms point to the example of the last World Cup in June 2010, held in South Africa. Macau’s GGR in June that year dropped by 20 percent from the previous month before picking up again in July.
    GGR in May rose 9.3 percent, coming in below expectations, with analysts offering mixed views on what caused the miss.