Macau ADR slows in third week of June: Bernstein

Macau’s ADR trends slowed in the third week of June as expected following strong performance in the second week, says Bernstein in a note on Monday.

The brokerage said that Macau’s gross gaming revenue MTD is MOP 10.1 billion, implying an ADR of MOP 471 million in the last week, compared to MOP 607 million in the previous week.

“Our channel checks indicate that the MTD VIP hold rate remained below normal and that last week also experienced some slowdown in both the VIP and premium mass segments due to some diversion of gaming demand from the Euro Cup,” said the brokerage.

Assuming an ADR of MOP 500-560 million for the remainder of the month, June GGR would be MOP 15.6-16.3 billion, representing a year-on-year decline of 6-10 percent, said Bernstein.