Last week’s ADR higher than anticipated: Bernstein

Gaming revenue in Macau for the first 11 days of June reached a total of MOP7.75 billion, implying MTD ADR of MOP705 million, investment brokerage Bernstein noted on Monday.

The MTD ADR number was 18 percent over a similar period in 2016, higher than previously anticipated, said analysts.

According to their channels, Mass GGR was down marginally while VIP volume was up month-on-month.

Assuming an ADR GGR of MOP620 to MOP660 million for the remainder of the month, Bernstein says it estimates June GGR to be between MOP19.6 billion and MOP20.3 billion, representing an increase of 23 to 28 percent year-on-year.