October GGR headed for increase of 12-14 pct

A latest report from Bernstein shows that Macau’s gross gaming revenue MTD has reached MOP13.8 billion (US$1.7 billion), with an ADR of $919 million.

According to the brokerage, the ADR result is above estimates, which is 29 percent higher compared with September ADR and 16 percent higher over a similar period in October 2016.

“According to our channel checks, VIP was up mid 20's percent year-on-year, helped by very favorable win rate but offset by slower volume, Mass GGR was up by in the range of mid-single digits percent year-on-year,” said the brokerage.

However, it also noted that while GGR was above expectations, the mix was poorer than expected and mass was disappointing.

Should gross gaming revenue in Macau continue along its trajectory, Bernstein says it estimates October GGR to reach between $24.5 billion and $25 billion, representing a year-on-year increase in October of 12 to 14 percent.

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