Macau gross gaming revenue picks up: Bernstein

Traffic picked up into the summer holiday and better VIP hold rate has pushed up Macau’s ADR to MOP 614 million over the last week.

In a note from Bernstein on Monday, Macau’s gross gaming revenue month-to-date reached MOP 13.4 billion (US$1.7 billion).

Assuming an ADR of MOP 575-650 million for the remainder of the month, July GGR would be MOP 17.4 – 18.0 billion, representing a year-on-year decline of 4-6 percent, said Bernstein.

Last week, analysts estimated Macau’s gross gaming revenue in July to decline between 8 to 10 percent year-on-year.

“Based on our channel checks, both VIP and mass revenue saw a slight sequential pick up into the summer holiday and post Euro Cup. We continue to expect improving GGR trends for the remainder of July,” said Bernstein in their note last week.