Positive momentum in second week of August

Macau gaming volumes have seen a marginal recovery for both VIP and mass in the first two weeks of August, said Bernstein in a note on Monday.

According to the brokerage, Macau gross gaming revenue month to date is MOP 8.3 billion ($1 billion), implying an average daily rate of MOP 593 million, up from the preceding week.

Assuming an ADR of MOP 580-620 million for the remainder of the month, August GGR is expected to hit MOP 18.1-18.8 billion, said Bernstein, representing a year-on-year decline . increase of -3 to 1 percent.

Bernstein’s estimates are lowered from the preceding week, which estimated a 3 percent year-on-year increase in GGR at the higher end of estimates.