July GGR headed for 10-12 percent YoY increase

GGR performance recovered in the first week of July, due partially to two weekends and fewer World Cup matches falling into the period, said a note from Bernstein on Tuesday.

Macau GGR MTD was MOP 6.6 billion for the July 1 – 8 period, with MTD ADR of MOP 825 million, up 10 percent year-on-year.

Bernstein said that mass was up mid-single digits month-on-month, while VIP volume was down 10 percent month-on-month.

According to channel checks, Bernstein said it estimates July GGR to a range of MOP 25.2 to MOP 25.7 billion, an estimated year-on-year increase in July of 10 to 12 percent.

Deutsche Bank on Tuesday made a slightly more conservative estimate, with expectation of July GGR to be MOP 25.2 million, up 9.8 percent year-on-year.