Macau GGR grows 21 pct in 18Q1: Bernstein

Continued strength in VIP and mass led to Macau GGR growth of nearly 21 percent during the first quarter of 2018, said Bernstein in a note on Friday.

VIP grew 26 percent year-on-year, outshining mass for the fourth quarter in a row, which grew only 16 percent.

That being said, the brokerage said it expects a slowing in VIP growth later in the year.

“The resilient strength in VIP has continued to surprise, but we are expecting a material deceleration in VIP growth as we move further into 2018,” said the analysts.

Bernstein says it expects the Macau gaming industry-wide EBITDA to experience 21 percent growth year-on-year.

Ahead of operators results from 18Q1, Bernstein says it expects Wynn to show the highest year-on-year EBITDA growth on the back of strong Wynn Palace results, with Galaxy showing the second highest EBITDA growth.

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