Last week GGR better than expected: Bernstein

Macau’s gaming industry performed better than expected in the week ended Feb. 12, with ADR of MOP 814 million (US$101.9 million), said Bernstein in a note on Monday.

The performance pushed February’s ADR to MOP 1 billion (61 percent higher than January’s ADR), and revenue MTD to MOP 12 billion, reported the brokerage.

“The week ending February 12 was better than we had expected as the drop off post CNY was not as extreme as we had estimated.”

Bernstein says it expects ADR between MOP 580 to 600 million for the remainder of the month, which would result in a February GGR in the range of MOP 21.3 and MOP 21.6 billion, representing a 9 to 10.6 percent year-on-year increase compared to the prior-year period.