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June GGR headed for 20 - 26 pct growth: Bernstein

Gross gaming revenue for the first week of June was MOP 2.7 billion, bringing month-to-date ADR to MOP 680 million, an increase of 33 percent year-on-year compared to a similar period in June 2016, notes Bernstein.

Assuming ADR of MOP 630 to MOP 670 million for the remainder of the month, June gross gaming revenue is estimated to be in the range of MOP 19 - 20 billion, representing a 20 - 26 percent increase year-on-year, says the brokerage.

Gross gambling revenue for May in Macau jumped 23.7 percent year-on-year to MOP22.7 billion ($2.8 billion) according to figures from the DICJ.

The results far exceeded analysts’ expectations for growth of 16 percent in the month, most likely due to continued strength in the VIP market.

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