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02282 MGM CHINA
RTNominal down13.080 -0.220 (-1.654%)
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20/03/2018 15:36

[I-bank focus]Macquarie sees Macau March GGR to grow 15-20%

[ET Net News Agency, 20 March 2018] Macquarie Research noted Asia Pacific Gaming
Consultancy (APG) published its weekly table-only GGR estimates. According to APG, the
Macau average daily run rate (ADR) is estimated at HK$700m for 12-18 March. The weekly ADR
decreased by 8% WoW, while up by 23% YoY.
With slots revenue estimated at HK$1bn, overall March GGR should reach cHK$23.8bn,
indicating 16% YoY growth and up 1% MoM, according to APG. This compares to Macquarie's
estimate (+15~20% YoY) and consensus (+20% YoY) for March. It expects to see an uptick in
both VIP & Mass visitations thanks to upcoming public events and Easter weekend in the
rest of March.
The research house maintains its positive sector view and expects GGR growth to
normalize at a mid-teen level for 2018 and 2019. In addition to continued strong momentum
in the VIP segment, it expects grind mass GGR growth to accelerate to 20% YoY in 2018. The
driver is a potential visitation boost and longer stay as the HK-Zhuhai-Macau Bridge is
expected to open in 2Q18. (HL)

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