Macau GGR grows 21 pct in 18Q1: Bernstein

Continued strength in VIP and mass led to Macau GGR growth of nearly 21 percent during the first quarter of 2018, said Bernstein in a note on Friday.

VIP grew 26 percent year-on-year, outshining mass for the fourth quarter in a row, which grew only 16 percent.

That being said, the brokerage said it expects a slowing in VIP growth later in the year.

“The resilient strength in VIP has continued to surprise, but we are expecting a material deceleration in VIP growth as we move further into 2018,” said the analysts.

Bernstein says it expects the Macau gaming industry-wide EBITDA to experience 21 percent growth year-on-year.

Ahead of operators results from 18Q1, Bernstein says it expects Wynn to show the highest year-on-year EBITDA growth on the back of strong Wynn Palace results, with Galaxy showing the second highest EBITDA growth.

More news from this jurisdiction

MacauFriday, Apr 20, 2018

SJM announced on Thursday that it will introduce a new “green energy shuttle bus service” starting in May, with the number of buses to increase in phases, local media reports.

MacauThursday, Apr 19, 2018

Showing its solid commitment to delivering products designed for the Asian market, Ainsworth will showcase its products in a dynamic booth, with dedicated Asian titles at the upcoming G2E Asia exhibition.

MacauThursday, Apr 19, 2018

Alfastreet is set to showcase Multi Touch Roulette, Lucky 8, and the Royal Derby horse race machine at G2E Asia.

MacauThursday, Apr 19, 2018

Sands China’s Professionalism Training for Gaming Practitioners programme, first launched in July 2016, is on schedule to train 3,000 team members before the end of the year.

MacauThursday, Apr 19, 2018

Glenn McCartney, professor at the University of Macau says that tourism development should become a key criteria in the upcoming race for gaming concessions in Macau.

MacauThursday, Apr 19, 2018

In a management analysis and discussion in its annual report, Wynn Macau highlighted the potential risks the company may face from the February resignation of founder and Chairman Steve Wynn following accusations of sexual harassment.

MacauThursday, Apr 19, 2018

Macau casino operator Melco Resorts & Entertainment has added a total of twenty electric buses to its shuttle fleet, transporting customers to, from and between its integrated resorts City of Dreams, Studio City and Altira Macau.