Macau average daily revenue higher in September than August

Macau’s gross gaming revenue for the month through September 6 was MOP4.1 billion ($513.6 million), according to Bernstein Research channel checks.

Last week's average daily revenue was MOP683 million, 14 percent higher than August's ADR of MOP601 million. 

“It is the most robust week since late May 2015. We believe part of the strength may be attributable to the long weekend in China (Sep 3–5) and Hong Kong.”

Assuming ADR of MOP600 million for the remainder of this month, Bernstein estimates September GGR to be MOP18.5 billion, representing a year-on-year decline of 27.6 percent. 

“We expect the y/y decline to taper on progressively easier comps.”

“MGM and Galaxy gained the most market share, while SJM and Sands lost the most. We caution that week-to-week fluctuations in market share may not be relevant due to its highly volatile nature.”

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