GGR slightly slower last week: Bernstein

Gross gaming revenue in Macau in the last week was down slightly week-on-week, bringing month-to-date GGR to MOP 17.85 billion, and ADR of MOP 714 million, said Bernstein analysts in a Monday note.

The MTD ADR number was 2 percent lower than May ADR, and 38 percent over a similar period in 2016.

Bernstein said the slower week-on-week revenue in the last week was due to a normalized VIP win rate, while mass daily GGR was also down month-on-month.

The brokerage’s estimates for June GGR has revised slightly from last week, with Bernstein now expecting GGR to reach MOP 20.9 to MOP 21 billion for the month, representing a year-on-year increase in June GGR of 31 to 32 percent.

The brokerage also notes that President Xi Jinping’s upcoming visit to Hong Kong for the 20th anniversary of handover (June 29 to July 1) may impact Macau’s GGR negatively.

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