[ET Net News Agency, 13 February 2018] HSBC Global Research cited its sources saying
that the first eleven days of February yielded MOP8.4bn in Macau's gross gaming revenue
(GGR).
This implies an average daily run rate (ADR) of MOP697m/day in the past week, compared
with MOP880m/day the week before and MOP814m/day during the same period last year. The
slowdown in run rate ahead of the Chinese New Year (CNY) is in line with the historical
trend.
Month to date luck stayed unchanged versus last week at 3.1-3.2% based on HSBC's
estimates. HSBC said its recent visit to Macau suggested that the fundamentals of both
segments remain robust.
By segment, VIP volume is down 10-15% versus January but flat with December. Mass is
down 5% versus January. By operator, Galaxy (00027), Wynn (01128) and Sands (01928) seemed
to have gained share from Melco (00200), SJM (00880), and MGM (02282) based on HSBC's
observations.
HSBC maintained its full-month GGR forecast at MOP24.4-25.4bn, which implies
MOP940-MOP1,000m/day for the rest of the month. (KL)
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00200 MELCO INT'L DEV
Nominal 
4.170 +0.110 (+2.709%) Others
13/02/2018 15:44
[I-bank focus]Macau casinos underlying momentum stays strong
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