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GGR growth to slow in 17Q4: Bernstein


Slowing VIP demand may cause GGR growth deceleration as we head closer to the end of the year, says Bernstein analysts.

While 17Q2 saw Macau market GGR driven by expanding premium mass and strong VIP demand (up 22 percent year-on-year), Bernstein says it expects this GGR growth to decelerate to 20 percent in 17Q3, and 8 percent in 17Q4, due to more difficult comparisons and slowing VIP demand.

Mass however, should continue to show robust growth, said the brokerage.

For all of 2017, Bernstein estimates GGR growth of over 15 percent, which will be comprised of mass growth of 13 percent year-on-year and VIP growth of 18 percent year-on-year.

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