Macau GGR flat in February, down 0.1 percent year on year

Macau’s casino gross gaming revenue (GGR) decreased 0.1 percent year on year, at MOP19.5 billion (US$2.4 billion) in February, according to the latest figures released by Macau’s Gaming Inspection and Coordination Bureau (DICJ).

According to Bernstein, average daily revenue (ADR) for the month was MOP 673 million, which was up 12 percent from January’s ADR of MOP 602 million, and posted “the best monthly performance, in terms of y/y decline rate, in the last 21 months.”

Analysts previously said despite a slow start to the festive season, gaming revenue picked up strong momentum post CNY. Union Gaming analysts say the February results was a positive sign for Macau, which beat the average consensus of -10 percent to +2 percent.

Union Gaming noted strong mass market performance over Chinese New Year, with mainland visitation up 4.3 percent during CNY and total visitation up 4.7 percent.

Looking ahead, Union Gaming says after the solid month, GGR is likely to return to a daily rate closer to MOP600 million, with estimated GGR at MOP18.6 billion in March and MOP18 billion in April.