Weekly GGR to face slowdown until CNY: Bernstein

Macau ADR in the past week (January 9 - 15) slowed down to MOP 614 million (US$76.9 million), down 4 percent from the week preceding, said Bernstein in a note on Monday.

“A lower week-on-week VIP hold rate, along with a general slowdown as the calendar moves closer to Chinese New Year, contributed to the slowing GGR this past week compared with the beginning the month,” said the brokerage.

The ADR result was however, 10 percent higher compared to the same period in 2016.

Last week, Bernstein predicted a slowdown in gaming revenue throughout the month of January, picking up only at the beginning of Chinese New Year (which begins January 28).

The brokerage in its latest note says it expects an ADR of MOP 590-620 million for the remainder of the month, resulting in a January GGR of MOP 20.4 billion and MOP 20.9 billion, a year-on-year growth of 10 to 12 percent.

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