Macau ADR boosts over Easter week

Gross gaming revenue in Macau last week (April 10-16) reached MOP5.05 billion, according to a note from Bernstein on Tuesday.

Month to date ADR reached MOP 721 million, which Bernstein says is largely attributable to the Easter Holiday which helped boost mass traffic for the last few days.

“According to our channel checks, VIP volume was down around low single digit month-on-month and hold rate was generally in the normal theoretical range,” said the brokerage.

The ADR result was a 1 percent drop from March ADR, but 26 percent over a similar period (April 11-17) in 2016.

Assuming an ADR of MOP 620-640 million for the remaining days of the month, April GGR is estimated to be in a range of MOP 19.6-19.9 billion, representing a year-on-year increase of 13-15 percent, noted Bernstein.