Bernstein remains positive for Macau September GGR forecast

September 6, 2022 Macau Earnings & Filings Industry Updates

Berstein forecasts a 70 percent leap for Macau’s September GGR from August’s on a monthly basis, down 83 percent from September 2019 base levels.
Macau’s daily gross gambling revenue for the start of the first week of September 2022 remained weak, registering a marginal MOP 88 million, Bernstein’s weekly gross gambling revenue report noted.

While marginal, revenues registered an upward positive swing on a week-on-week case basis, up 12 percent compared to the MOP 79 million ($9.77 million) ADR during Aug 22-31.

Based on the first week GGR numbers for September 22, the brokerage views the monthly revenues for Sep 22 to spike with a decent rise in Average Daily Revenue (ADR).

“We forecast Sept 22 GGR to be down 83% vs. Sept’19,” the brokerage remarked, but further read that ADR is expected to remain up 70 percent on a month-on-month basis against the August 22 GGR numbers.

Bernstein’s report also warned that the same revenue “could be lower if China COVID outbreaks further hurt travel sentiment and visitation into Macau does not pick up.”