First week March GGR in line with expectations

Macau gross gaming revenue for the first week of March was in line with expectations, at MOP 3.2 billion with an ADR of MOP 630 million, said Bernstein in a note on Monday.

The month-to-date ADR was down 23 percent compared to February but +18 percent over a similar period in 2016.

Assuming an ADR of MOP 625 to 640 million for the remaining days of the month, the brokerage estimates March GGR to be in a range of MOP 19.4 billion and MOP 19.8 billion. This would represent a year-on-year increase in March of +8 percent to +10 percent, said the brokerage.

In February, gross gaming revenue reached MOP 23 billion, representing year-on-year growth of  17.8 percent.