The first week of May has seen Macau’s casino operators on track to record gross gaming revenue of between MOP$26.1 billion and MOP$26.9 billion for the month, a year-on-year increase of 15% to 18%.
In a Monday note, Bernstein analysts estimated an average daily rate (ADR) of MOP$933 million from 1 to 6 May based on its channel checks, an increase of 27% on the May 2017 ADR and up 9% sequentially.
“GGR was benefited by the Labor Day holidays but part of the demand has been shifted to April,” Bernstein said. “VIP hold rate was above normal range, mass was up mid-single digit month-on-month compared with the April ADR number, while VIP volume was up mid-high single digits month-on-month.”
Bernstein assumes an ADR of between MOP$820 million and MOP$850 million for the remainder of May, which would bring the year-on-year increase to between 15% and 18%.