Macau gaming revenue strong in early January: Bernstein

Macau has posted a particularly strong start to the new year, reporting a ADR of MOP 715 million, a 31 percent increase over December’s ADR, said Bernstein in a note on Monday.

“GGR during the Jan 1 New Year holiday was quite strong, and the strength carried over into the weekdays, in particular for the VIP and premium mass. VIP in particular was strong in both volume and hold (where channel checks indicated hold of over 3.2 percent), said Bernstein.

Based on the recent performance, the brokerage says they have revised its January GGR estimate of Macau to MOP 20.5 billion to MOP 21 billion, which would represent a year-on-year increase of 10 - 12 percent year-on-year.

However, for the remainder of January, Bernstein says it expects a softening of GGR.

“With Chinese New Year commencing on January 28, the first two days of the holiday are generally softer compared to the latter part of the week.  We expect strong GGR performance at the end of January preceded by softening in GGR over the next 3 weeks,” said the brokerage.

“Upside GGR in January would be largely driven by stronger than anticipated VIP volumes or high hold,” it added.

More news from this jurisdiction

MacauThursday, Nov 16, 2017

The Macau Gaming Equipment Manufacturer Association’s (MGEMA) annual trade show concluded on Thursday afternoon after a busy three day event.

MacauThursday, Nov 16, 2017

Meaningful diversification of gaming products will be a long time coming due to the slow turning wheels of regulation, said at panel of analysts at the Macao Gaming Show on Thursday.

MacauThursday, Nov 16, 2017

Nearly 1,000 guests attended a gala dinner for the Macau Gaming Equipment Manufacturers Association (MGEMA) on Wednesday night at the Grand Ballroom of the JW Marriott.

MacauThursday, Nov 16, 2017

The 2017 MGS Entertainment Show and Summit got off to a strong start yesterday, with industry professionals visiting the exhibition at The Venetian Macao.

MacauWednesday, Nov 15, 2017

The number of casino exclusions in Macau reached 283 in the first three quarters of 2017.

MacauWednesday, Nov 15, 2017

The 2017 MGS Entertainment Show and Summit kicked off on Tuesday morning with its opening ceremony at The Venetian Macao.

MacauTuesday, Nov 14, 2017

While Macau’s rich cultural history will be key to turning the city into “must-see” tourist destination, there is also an opportunity to improve hospitality offerings and expand new industries, such as esports, according to experts at the MGS Summit.