May GGR on track for 16-17 percent gain: Bernstein

    Gross gambling revenue in Macau is on track to gain between 16 to 17 percent from the same month last year, according to estimates from Bernstein Research.

    According to the firm’s channel checks GGR month to date has been MOP17.3 billion, with an average daily rate of MOP864 million. The ADR is up 1 percent from the prior month, up 3 percent from March and up 24 percent from May last year.

    Bernstein said ADR last week picked up significantly after the seasonal slowdown after the Labor Day holiday and was 36 percent higher than the same month a year ago.

    Mass was up by low single digits  compared with April’s ADR number, while VIP volume was up low-mid single digit.

    “It seems that the crackdown of the Gongbei border gate exchange stores didn’t hurt last week’s GGR,” it said.