Macau: January’s GGR running behind 2017
According to Bernstein, GGR in Macau so far in January has been lower than it was one year ago but expects it to recover by the end of the month.
Macau.- Deutsche Bank Securities Inc. revealed strong projections for gross gaming revenue (GGR) in Macau for 2018 and forecasted an 11 per cent growth. However, according to financial firm Bernstein, the industry had a worse performance than 2017 during the first week of January.
The firm published its assessment of the territory’s performance and revealed a month-to-date ADR of three points above last month but 10 per cent lower over January 1 to 8 in 2017. However, despite mass being down month-on-month, they revealed the VIP hold rate has been at a regular level and projected it to be up low single digits month-on-month.
The brokerage estimated that the ADR will be somewhere between 71.2 and 73.2 million euros and forecasted GGR to recover by the end of January and expects it to reach a record 14 to 16 per cent increase to somewhere between 2.24 and 2.28 billion euros.
