Macau gross gaming revenue fell 21.4 percent year on year in January, to MOP 18.67 billion (US$2.3 billion) according to the official figures released by the Gaming Inspection and Coordination Bureau (DICJ).
The decrease represents the 19th straight month of casino revenue decline.
Bernstein noted that the ADR for the last 7 days (Jan. 25-31) was approximately MOP 470-525 million, which is around 10 – 20 percent lower than last week’s ADR, but has since weakened due to the lead up to the Chinese New Year holiday.
Despite the overall decline in January, Union Gaming says the GGR trends picked up in the final days of the month, beating expectations by a couple of hundred basis points, and are “cautiously optimistic that GGR could finally show positive growth in February, so long as total GGR exceeds MOP 19.5 billion”.
Union gaming also adds that the gap between mass market and VIP revenue will continue to widen as the year progresses.