Gross gaming revenue in Macau over the last week reached MOP 5 billion (US$625 million), implying ADR of MOP 714 million, according to a note from Bernstein on Monday.
The results brought month-to-date gross gaming revenue to MOP 17.5 billion, indicating a ADR of MOP 673 million for the month.
“Compared with February’s ADR of MOP 821 million, the MTD ADR of MOP 673 million was down 18 percent,” noted Bernstein.
“VIP remained strong and luck factor during last week was at a normal level according to our channel checks,” it added.
Bernstein estimates March GGR to be in the range of MOP 20.3 billion and 20.5 billion, representing an increase of 13 to 14 percent year-on-year.
Asia’s gaming stocks have been pummelled by the outbreak of the coronavirus, but with signs China may be bringing the disease under control, is it nearing the time to re-enter the market?
The Coronavirus, now renamed as Covid-19, has devastated the near-term outlook for Asia’s casino operators, though analysts still expect demand to snap back sharply once the outbreak is under control. The big question is when that might be.
Macau's gross gambling revenue for October is expected to be down 73 percent with channel checks showing GGR up until October 26 at MOP5.95 billion (US$747 million), according to Bernstein research.
Analysts at Bernstein Research expect Macau to report a 90-95 percent year-on-year fall in GGR in the month of May, as the gambling enclave continues to be impacted by Covid-19 travel restrictions. In a filing on Monday, the brokerage noted that month-to-date average daily revenue (ADR) is down 94 percent year-on-year compared to May 2019. […]
Macau’s gross gambling revenue is likely to fall 37 percent in 2020, before rebounding strongly next year, and Galaxy Entertainment stands out as the “least risky” gaming company, Bernstein Research said in a note.
Macau’s six operators have enough liquidity for the next six months before they are likely to need to draw on debt financing, Bernstein Research reported.
Macau gross gaming revenue could decline “well-over” 40 percent in a slow recovery environment, said Bernstein analyst Vitaly Umansky in a webinar on Tuesday. The decline will depend mainly on visa and transport resumption as it relates to mainland Chinese visitor arrivals. Currently, visitation into Macau is running at around 10 percent of normal as […]
Macau gross gaming revenue could grow as much as 8 percent year-on-year in 2020, driven by VIP recovery in 20H2, and continued strength in mass. According to analysts from Bernstein, mass is expected to continue to show strength in 2020, growing at 9 percent year-on-year. Bernstein noted that a fundamental growth constraint in 2019 was […]
Wynn Macau is likely to benefit more than other operators when it comes to the growth of the premium mass sector in Macau, according to analysts from Bernstein in a 160-page report on Wednesday. Year-to-date, VIP has declined mid-teens percentage as growth in mass has remained above 10 percent. Bernstein said it expects mass GGR […]
The first ten days of November are off to a slow start in Macau, with month-to-date average daily revenue (ADR) down 10 percent year-on-year, according to a note from Bernstein on Tuesday. According to channel checks, Macau GGR for November 1-10 is estimated to be MOP7.5 billion, with mass remaining robust, rising by low double […]