Macau’s gross gaming revenue for February is on track to grow by between 8 and 12 percent year-on-year, according to analysts.
Early indications for the first 12 days of the month have average daily rate (ADR) up to MOP$1 billion – a 61 percent increase on January ADR – with Bernstein’s Vitaly Umansky, Zhen Gong and Yang Xie predicting growth of between 9 and 10.6 percent year-on-year.
“The week ending 12 February was better than we had expected as the drop off post Chinese New Year was not as extreme as we had estimated,” the brokerage said in a note. “We estimate an ADR of MOP$580 to $600 million for the remainder of this month, which would result in a February GGR in the range of MOP$21.3 billion and MOP$21.6 billion.
Wells Fargo Senior Analyst Cameron McKnight is looking at growth of as much as 12 percent for the month.
“Based on checks through 12 February, we estimate February revenues will be +8 percent to +12 percent year-on-year,” McKnight said. “This is up from our prior estimate.
“We estimate average daily revenues (ADR) were around MOP$1 billion through the first 12 days of the month. The past week was higher than our prior MOP$700 million estimate. Our contacts suggest that VIP hold was about normal and VIP growth is outperforming mass growth year-on-year.”
