April GGR could be 21 pct up in Macau

Bernstein estimated that gaming revenues could increase between 17 per cent and 21 per cent in April.

Macau.- Bernstein analysts said on a Monday note that the gaming sector in Macau totalled average daily revenues (ADR) US$97 million between April 1st-8th, a 19 per cent year-on-year rise when compared to the same week last year.

Daily results are eight per cent lower than March, with VIP hold rate below normal during April, which resulted in a daily VIP revenue drop month-to-month, but with daily mass-market volumes slightly up.

Bernstein estimated that if ADR remains at this level, April is set to end with total gaming revenues between US$2.8 billion andUS$2.9 billion, a year-over-year increase of 17 per cent to 21 per cent.

The firm also talked about a small Macau labor group that want to implement changes in the industry: “The labor pronouncement is a continued example of various labor groups continuing to call for better benefits and compensation in the industry which is likely to add to continued wage and benefits cost escalations in the future for the industry,” the note said.