Macau GGR to rise in June
According to Bernstein, Macau GGR is set to increase by 22 per cent thanks to a positive Morpheus opening and the Dragon Boat Festival long weekend.
Macau.- Several brokerages had already said that Macau’s gross gaming revenue (GGR) was set to increase during June and Sanford Bernstein just confirmed it. According to the firm, GGR is expected to increase by 21 or 22 per cent this month, mainly thanks to a positive Morpheus opening and the Dragon Boat Festival long weekend.
According to the brokerage’s analysts, June GGR is expected to reach US$2.96 to US$2.98 billion, assuming a GGR ADR of US$90.3 million to $92.8 million.
JP Morgan Securities (Asia) Ltd analysts DS Kim and Sean Zhuang had written in a June 11th Memo: “Based on our checks, gross gaming revenue (GGR) for the first 10 days of June was estimated at circa US$1.05 billion, translating into US$88.3 million per day. This is better than May’s US$85.4 million per day (which was dragged by poor VIP luck), helped by two full weekends during the 10-day period.”
Apparently, one of the world’s largest gaming markets is on track to achieve a major growth as it has sustained a steady success over the last few months.
