GGR to hold strong for rest of May: Bernstein

With the upcoming dragon boat festival holidays, Bernstein analysts believe Macau’s gross gaming revenue may stay strong until the month’s end.

According to the brokerage, last week’s gross gaming revenue (May 15-21) was higher than previously anticipated, reaching MOP4.85 billion (US$604.8 million), with an ADR of MOP 692 million. Bernstein noted that revenue had increased post Zhang’s visit.

As a result, Bernstein has raised its month’s forecast for May, which is now estimated to be in the range of MOP 21 billion to MOP 21.4 billion, representing a year-on-year increase of 14 to 16 percent.