Bernstein forecasts GGR growth in Macau
According to brokerage Sanford C. Bernstein, February’s GGR in Macau is set to grow between 16 and 19 per cent year-on-year.
Macau.- Despite reporting a nearly 30 per cent decrease in gross gaming revenue (GGR) in Macau during the first four days of February, brokerage Sanford C. Bernsetin projected a year-on-year growth for the whole month. “The first few days of February should not be taken as guidance for the month,” analysts said and advanced it is set to grow between 16 and 19 per cent from 2016.
“Assuming a GGR average daily rate of €94.8 million to €97.75 million for the remaining days of the month, we estimate February GGR to a range of €2.6 billion to €2.69 billion, an estimated year-on-year increase in February of 16 percent to 19 percent,” analysts Vitaly Umansky, Zhen Gong and Cathy Huang wrote.
They further added that GGR’s growth may slow down just before the Chinese New Year: “The magnitude of the pre-Chinese New Year slowdown and the volatility in hold rate may skew these numbers (most likely lower),” they assessed. Furthermore, it is expected that the period immediately after will see it benefit in tourist numbers and betting volume.
