July GGR estimated to reach 2-4 percent growth: Bernstein

An easing of year-on-year comparisons will see July GGR grow between 2-4 percent year-on-year, say analysts from Bernstein.  According to channel checks from the brokerage, Macau GGR for the first week of July reached MOP5.95 billion (US$741 million), with an MTD ADR of MOP 850 million. The MTD ADR number is up 3 percent compared to the similar period in July 2018.  VIP volume is estimated to be down mid to high single digits compared to June, but VIP GGR is helped by a better than normalized hold rate. Mass GGR is estimated to be up mid-single digits percentage month-on-month.  “Year-on-year comparison began to ease in June as expected, and it should continue as we head into July,” said the brokerage.