Macau ADR up 18 percent, better than expectations; Bernstein

Macau’s gross gaming revenue for the week of Mar. 7-13 was MOP 4.4 billion ($US 550.6 million), implying an ADR of MOP 628 million, up 18 percent from the preceding week says Bernstein.

The research house says the results were better than expectations. “We believe the sequential improvement is helped by both higher volume and VIP hold rate.”

Assuming an ADR of MOP 550-600 million for the remainder of the month, Bernstein estimates March GGR at 17.5 – 18.4 billion, representing a y/y decline of 14-19 percent. The revised estimation is an upgrade from that of the first week of March, which estimated March GGR at MOP 16.4 – 17.6 billion.