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

MacauTuesday, Nov 21, 2017

Sands China Ltd. celebrated the 10th anniversary of The Venetian Macao Monday, highlighted by a ceremony at the outdoor lagoon of the iconic integrated resort.

MacauTuesday, Nov 21, 2017

Total visitor spending in Macau, excluding gaming, grew 8.8 percent year-on-year in the third quarter of 2017, according to data from the Statistics and Census Service (DSEC).

MacauTuesday, Nov 21, 2017

The Macau government is expecting total expenditure in 2018 to be more than MOP109.6 billion (US$13.6 billion), a 14.5 percent increase from the budget this year.

MacauMonday, Nov 20, 2017

Casino operator MGM China is launching a number of Grand Opening Offers ahead of the opening of MGM Cotai on January 29, 2018.

MacauMonday, Nov 20, 2017

The Macau Grand Prix led to a slowdown in gross gaming revenue in Macau, with visitors deferring their trips in order to avoid busy traffic and road blocks last week, said Bernstein.

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

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