Macau saw its gross gaming revenue soar to MOP$26.26 billion in January, representing a 36.4% increase over January 2017 and the largest year-on-year growth in almost four years (February 2014).
The figure exceeded market estimates of 27% growth, with the average daily revenue (ADR) of MOP$847 million up 16% on December 2017’s ADR of MOP$732 million.
Analysts had previously flagged the likelihood of strong numbers in January due to strong hold early in the month. In a note, Morgan Stanley estimated January VIP growth of 46%, with mass up 28% year-on-year.
“We believe the strong GGR in Jan was driven by both visitation (Christmas and New Year visitors) and spending per capita, according to our recent channel check with operators and junkets,” it said.