Luck helps Macau Oct. GGR: Bernstein

Gross gambling revenue in the first 20 days of October is likely to be about MOP18.6 billion ($2.3 billion), with the luck factor in the latest week helping offset lower VIP volumes, according to Bernstein Research.

According to the firm’s channel checks, the average daily rate was MOP930 million, 5 percent higher than October last year and 26 percent higher than September. For the seven days from Oct. 14 to 20, mass volume is expected to have improved by the low teens and VIP volume was down in the low 20s, but helped by a higher-than-average hold rate.

As a result of the latest figures, Bernstein said it was revising its Oct. GGR rate to between negative 3 percent and flat. It previously expected a rate of negative 6 percent to negative 3 percent. 

“There could be potential upside to our estimate if VIP hold rate stays above normal range,” it added.