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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

MacauMonday, Jan 15, 2018

The second week of January saw stronger GGR numbers, says brokerage firm Bernstein, which has revised up its GGR estimate for the month.

MacauMonday, Jan 15, 2018

Melco Resorts & Entertainment Ltd is proud to announce the winning of three Hotelier of the Year for 2017 awards at the prestigious BMW Hotelier Awards, an annual award presentation for the hospitality sector.

MacauFriday, Jan 12, 2018

A group of gaming workers from Wynn Macau have submitted a petition to the MSAR government complaining of Wynn’s alleged tolerance of clients’ illegal smoking.

MacauTuesday, Jan 09, 2018

The Hong Kong-Zhuhai-Macau Bridge is set to open in the second quarter of 2018, according to people familiar with the matter.

MacauTuesday, Jan 09, 2018

The Adelson Family Foundation on Tuesday presented a cheque for more than $1.9 million to the University of Saint Joseph.

Elsewhere, MacauTuesday, Jan 09, 2018

Casino operator MGM recently supported a University of Macau (UM) study tour to Las Vegas.

MacauMonday, Jan 08, 2018

The first week of January saw month-to-date GGR performing slightly lower than its 2017 counterpart, according to channel checks from Bernstein.