Macau GGR picked up last week, Grand Prix slowdown expected

Macau GGR was much stronger than expected in the second week of November, with month-to-date figures reaching MOP9.4 billion with an ADR of MOP 779 million, say analysts from Bernstein.

The month-to-date AFR is around 9 percent lower than October ADR but 28 percent over a similar period in 2016.

Bernstein said that VIP hold rate during the month has been in the normal range with strong volumes.

The brokerage also noted that heavy foot traffic in Macau, which has helped to lift base mass and premium mass. Bernstein expects mass to be up mid to high teens while VIP will be likely to be up 35 percent year-on-year.

With the upcoming Macau Grand Prix, Bernstein noted that this event has historically dampened GGR in Macau.

With this in mind, Bernstein estimates November GGR to be in  range of MOP22.1 to MOP 22.5 billion, representing a year-on-year increase in November of 18 to 20 percent.

More news from this jurisdiction

MacauThursday, Feb 22, 2018

Macau emerged as a major winner in the latest edition of the Forbes Travel Guide, with the highest number of five-star hotels, restaurants and spas.

MacauTuesday, Feb 20, 2018

Gross gambling revenue over the Chinese New Year period was disappointing, despite higher visitation to Macau, according to Bernstein analysis.

MacauThursday, Feb 15, 2018

Macau Legend Development says it expects to record an 85 percent increase in net loss for the year ended December 31, 2017, attributed to depreciation, financial and impairment costs.

MacauThursday, Feb 15, 2018

MGM China has announced the resignation of Mr. Kenneth A. Rosevear as a non-executive director of the company, effective February 14.

MacauWednesday, Feb 14, 2018

Macau junket operator Rich Goldman saw its 17H2 profit fall 38 percent to HK$24.7 million (US$31.6 million), impacted by a significant drop in revenue from its gaming business.

MacauWednesday, Feb 14, 2018

Melco has announced the payment of a one-month discretionary bonus to all eligible non-management employees, as well as a salary increase of 2.5 percent to 8.1 percent.​

MacauTuesday, Feb 13, 2018

GLI Asia is celebrating ten years of service to the Macau gaming market and to the operators, regulators, and suppliers of the surrounding regions in Asia-Pacific.