November GGR to grow 2-4 pct year-on-year: Bernstein

Macau GGR is on track to register 2-4 percent year-on-year growth in November, in-line with estimates made at the start of the month.

According to Bernstein’s channel checks, visitation slowed down in the last week compared to the first 11 days of the month, due mainly to players delaying their trips to Macau as a result of the Macau Grand Prix.

MTD GGR has reached MOP 14.6 billion as of November 18, equating to an MTD ADR (average daily rate) of MOP 813 million – up 8 percent compared with October.

Average VIP daily volume is estimated to be down mid-single digits month-on-month, while mass GGR is estimated to be down high-single digits month-on-month.

Assuming GGR ADR stays at around MOP 740 to MOP 780 million, Bernstein says it estimates November GGR to fall in a range of MOP 23.5 – MOP 24 billion, an estimated year-on-year increase of 2-4 percent.