According to a note by brokerage Bernstein, Macau GGR grew nearly 21 per cent during the first three months of 2018.
Macau.- The first quarter of 2018 is finally in the books and Macau has recorded a strong performance at the beginning of the year. According to brokerage Bernstein (in an analysis prior to operators’ results), continued strength in both VIP and mass led to a 21 per cent growth in gross gaming revenue (GGR) during said period in one of the largest gaming markets in the world.
Brokerage analysts revealed in a note that the VIP segment had a stronger performance than mass once again after rising 26 per cent year-on-year. However, they reported that the results for the first quarter may not be as positive and could slow down during the rest of the year.
“The resilient strength in VIP has continued to surprise, but we are expecting a material deceleration in VIP growth as we move further into 2018,” analysts wrote.
Furthermore, Bernstein analysts assessed that EBITDA (for the whole Macau gaming industry) will probably be up 21 per cent year on year. That being said, Bernstein says it expects Wynn to show the highest year-on-year EBITDA, with Galaxy coming in second place.