Macau’s GGR to grow in April

Gross gaming revenue in Macau is expected to grow between 20 and 21 per cent in April.

Macau.- A Monday note from brokerage Sanford C. Bernstein Ltd said that gross gaming revenue (GGR) is on its way for a year-on-year growth of 20 to 21 per cent in Macau. While the predictions are based on unofficial data, this report marks a higher increase than previous estimations.

Analysts Vitaly Umansky, Zhen Gong and Cathy Huang from Sanford Bernstein said: “Assuming a GGR average daily rate of US$96.6 million to US$100 million for the remaining days of the month, we estimate April GGR to be in the range of US$2.9 billion and US$3 billion, an estimated year-on-year increase in April of 20 per cent to 21 per cent.”

Moreover, Japanese brokerage Nomura said on Monday that if GGR per day settles at around US$97.9 million for the rest of the month, then GGR growth will be approximately 18 per cent to 22 per cent for April, GGRAsia cites. JP Morgan Securities analysts also said that month-to-date GGR implies a strong 21 per cent growth year-on-year for the whole month of April.