Macau to close March results
Although gross gaming revenue (GGR) in March indicates a general year-to-year increase, Macau has not surpassed February’s results.
Macau.- Estimative results announce a conceivable growth of 13 to 14 percent in Macau’s casinos gross gaming revenue in March, which is less than what the industry achieved during February’s operations. Although the VIP gaming sector is one of the strongest of the regional economic development, the strict control on relevant transactions leads to variability on monthly results.
As revealed yesterday by the investment-management firm Brokerage Sanford C. Bernstein Ltd, March’s activity among gaming venues in Macau has been generating gross gaming revenue (GGR) of US$2.87 million. The result represents average daily revenue (ADR) of US$84 million for the month-to-date period.
The Bernstein statement, released last Monday, detailed: “Compared with February’s average daily revenue of US$102 million, the moth-to-date ADR of MOP$ 673 million was down 18 percent.” Furthermore, the finance experts added: “VIP remained strong and luck factor during last week was at a normal level according to our channel checks.”
The statement also reveals that the gross gaming revenue in Macau during the first weeks of March was of US$625 million. This result shows average daily revenue of US$89 million. In total, it is expected that local casino gross gaming revenue reach approximately US$2.5 million, which would mean an increase of 13 to 14 percent year-on-year.
However, compared to February’s results, Buckingham Research Group considers a probable decline of 8 percent in Macau’s gross gaming revenue. “The weight of the overall GGR number needs to be taken with a bit of scepticism,” stated the research group.
