Macau’s gross gaming revenue grew 22.6% year-on-year to MOP$23.0 billion in November, the 16th consecutive month of GGR growth.
The figure again beat out market estimates and brought year to date growth up to 19.5% thanks to another impressive month for the VIP segment. According to Union Gaming, VIP growth topped 30% in November with mass in the “high single or low double digits.”
It also bodes well for December which has historically been a stronger month than November, with this year bringing an additional Sunday compared with December of 2016. With that in mind, Union Gaming analyst Grant Govertsen is forecasting 23% growth for the month, which would bring GGR above +20% for the full year.
Brokerage Sanford C Bernstein said that November’s average daily revenue (ADR) was MOP$768 million – 11% below October’s ADR of MOP$859 million. However, the figure also implied a strong finish based on earlier calculations with the last four days of the month bringing in ADR of MOP$871 million.
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