Macau’s gross gaming revenue is on track to record a year-on-year increase of between 22% and 24% in January thanks to above normal VIP hold.
So says brokerage Sanford C Bernstein in its weekly GGR report, which has the city’s gaming revenue sitting at around MOP$11 billion for the first 14 days of the month, representing a 7% increase on both December’s average daily rate and on the same period in 2017.
Average daily rate so far this month sits at around MOP$786 million.
“According to our channel checks, the VIP hold rate so far during the month has been above normal level. During this period, VIP volume was likely up by high single digit % month-on-month (compared to December) and back to November levels,” Bernstein analysts said. “Mass was likely flat month-on-month (compared to December).”
The brokerage said that an average daily rate of between MOP$740 million and MOP$760 million for the second half of the month would propel Macau’s GGR to between MOP$23.6 billion and MOP$23.9 billion, representing a 22% to 24% increase on January 2017 revenue.