May GGR to decline 6-7 percent: Bernstein

Macau gross gaming revenue for the last two weeks was MOP 7.9 billion (US$987.5 million), with ADR for the last week at MOP 600 million and MOP 528 million the week before, says Bernstein.

The last two weeks saw ADR weaker than the first week of May, which included the Labor Day holiday, said the brokerage.

Assuming an ADR of MOP 550-570 million for the remainder of the month, Bernstein estimates May GGR at MOP 19 – 19.1 billion, representing a decline of 6 – 7 percent, which continues the path of market stabilization and recovery.

On the other hand, analysts from Telsey Advisory Group said they expect Macau gross gaming revenue is expected to show a 10 percent year-on-year decrease, putting monthly gross gaming revenue at MOP18.2 billion.

 ‘Our discussions with company management teams suggest that there is some actual improvement in mass play offset by declines in VIP, which provides for a positive profitability mix shift,’ stated the consulting firm in its release on Wednesday.