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December GGR off to a strong start: Bernstein

The first ten days of December saw gross gaming revenue in Macau reach MOP8.25 billion (US$1.0 billion), with ADR of MOP825 million, according to the latest report from Bernstein on Monday.

The MTD ADR number is 7 percent higher than November ADR, and 20 percent over a similar period in 2016.

According to Bernstein’s channel checks, the VIP hold rate during the month has been at normal levels, while GGR has been helped by strong volume and the two weekends falling in the period (December 1-10). Bernstein added that both Mass and VIP were likely up mid-high single digit month-on-month.

Should GGR ADR stay around MOP750 to MOP770 million for the remainder of December, Bernstein says it estimates gross gaming revenue to reach between MOP24.0 to MOP 24.4 billion for December, representing a year-on-year increase of 21 to 23 percent.

The number is an increase from its estimates made by the brokerage at the start of December, which forecasted mid teen percentage growth in December.

At the time, the brokerage noted that any upside will likely be driven by VIP. 

More news from this jurisdiction

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Two suspects involved in the theft of casino chips from Wynn Macau have been arrested.

MacauFriday, Jan 19, 2018

The former operators of the Beijing Imperial Palace Hotel, and it’s casino, Greek Mythology, have been fined over MOP4.4 million (US$546,568) for violating labour laws.

MacauThursday, Jan 18, 2018

The number of casino exclusion applications in Macau grew 7.1 percent in 2017, reaching a total of 376 in the year.

MacauThursday, Jan 18, 2018

Macau police are searching for a dealer who reportedly stole close to HK$48 million (US$6.1 million) worth of casino chips from Wynn Macau, local media reports.

MacauThursday, Jan 18, 2018

The Macau SAR saw total visitor arrivals grow 5.4 percent in 2017, reaching 32.6 million, said the head of Macao Government Tourism Office (MGTO), Maria Helena de Senna Fernandes on Wednesday.

MacauWednesday, Jan 17, 2018

Sands China team members and executives visited residents of Navegantes Street and Lai Chi Vun in Coloane Wednesday.

MacauWednesday, Jan 17, 2018

The Macau legislature passed the outline of a bill on Tuesday, which proposes that no gaming projects will be allowed on newly reclaimed land in Macau.