April GGR smashes expectations at 28 pct

Gambling revenue in Macau surged 28 percent year-on-year in April, beating analyst expectations.

According to official data, gaming revenue reached MOP 25.7 billion (US$3.2 billion) in the month, surpassing Bloomberg consensus of 20.5 percent.

In a note released by Union Gaming on Tuesday, the month’s GGR performance came despite one fewer Saturday and a tough comparison to April 2017 (which recorded 16 percent growth at the time). GGR ADR was MOP 858 million, in line with both of the recent holiday months.

April’s results brought GGR growth for the first four months of the year to 22.2 percent, with both VIP and mass remaining above 20 percent growth.

Looking ahead, the brokerage says it expects May to benefit from a strong holiday period, with accelerating growth in mass, and a record number of person crossing Macau’s borders for the Labor Day holiday period.

Union Gaming says it expects 18Q2 GGR to grow 22 percent year-on-year, higher than previous estimates., which includes May forecast of 18.7 percent and June of 20.0 percent growth.

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