First week July ADR up 44 pct over 2016

Gross gaming revenue for the first week of July (1-9) reached a total of MOP 6.8 million, bringing month-to-date ADR to MOP 755 million, according to a report from Bernstein on Monday.

The MTD ADR number was 13 percent higher compared to June ADR, and 44 percent over a similar period in 2016.

“According to our checks, Mass MTD ADR increased by high single digit month-on-month while VIP ADR was up by low-mid teens,” added Bernstein.

“The devil remains largely in the details regarding the breakdown between VIP and Mass and overall market share data (which is not available) and as such the weight of the overall GGR number needs to be taken with a bit of skepticism as weekly channel checks have proven to be less than accurate and volatile,” Bernstein noted.

Assuming an ADR GGR of MOP 650 – 680 million for the remainder of the month, Bernstein says it estimates July GGR to reach MOP 20.9 – 21.8 billion, representing a year-on-year increase of 19 – 22 percent.