July GGR on track for 11-13 percent growth: Bernstein

Macau’s gross gaming revenue is on track for growth of between 11 percent and 13 percent in July, according to analysts at Bernstein Research.

Bernstein said its channel checks have grown month to date GGR of MOP18.35 billion ($2.27 billion), which is 13 percent higher than the same period a year earlier. The figure is so far 11 percent higher than June and 1 percent higher than May.

The mass market was likely up mid-single digits month-on-month, while the VIP volume was likely up low teens, the firm said, cautioning that weekly channel checks can prove volatile and not always accurate.

In June GGR came in 12.5 percent year-on-year, down from the 18-20 percent expected by analysts. The shortfall sent shares in Macau operators tumbling.