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January GGR to record 14-16 pct increase: Bernstein

The first week of January saw month-to-date GGR performing slightly lower than its 2017 counterpart, according to channel checks from Bernstein.

While the month-to-date ADR is up by three percent from December, the ADR number is down 10 percent over a similar period (Jan 1-8) in 2016.

According to channel checks, the VIP hold rate has been at a normal level, with VIP likely up low single digits month-on-month, while mass was marginally down month-on-month, said the brokerage.

Assuming an ADR of MOP 690-710 million (US$85.4 - 87.8 million) for the remainder of the month, Bernstein says it estimates January GGR to record a 14-16 percent increase, reaching an estimated MOP 21.9 - 22.3 billion.

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