GGR off to strong start in May, Bernstein says

Macau’s gross gaming revenue for the first week of May was off to a strong start, and is expected to be seasonally stronger than April, says Bernstein in a report.

According to the brokerage, the region saw gross gaming revenue at MOP 6.1 billion (US$762.8 million), implying an ADR of MOP 762 million, up from MOP 607 million from the previous week.

Assuming an ADR of 550-570 million for the rest of the month, Bernstein says they expect GGR to be MOP 18.7 – 19.2 billion, representing a year on year decline of 6-8 percent.

The month will benefit from the labor day holiday, but its benefits will be somewhat offset by fewer weekends, said the brokerage.