January second week GGR picks up

The second week of January saw stronger GGR numbers, says brokerage firm Bernstein, which has revised up its GGR estimate for the month.

According to the brokerage’s channel checks, Macau GGR reached MOP 11 billion (US$1.4 billion), with ADR of MOP 786 million, up 7 percent over a similar period in 2017.

Bernstein said VIP hold rate has been above normal levels, with VIP volume likely up high single digits compared to December.

Assuming a GGR ADR of MOP 740- 760 million for the remaining days of the month, Bernstein estimates January GGR to a range of MOP 23.6-23.9 billion, an estimated year-on-year increase in January of 22-24 percent, up from previous estimates of 14-16 percent.

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