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Brokerage Sanford C Bernstein has raised its June revenue forecast for the second time this month, with Macau’s GGR now tracking at better than 30% year-on-year growth.
Bernstein analysts put the average daily rate (ADR) through the first 18 days of June at around MOP$722 million – up 36% over a similar period last year despite the presence of Tropical Storm Merbok last week. Even with ADR of between MOP$640 million and MOP$660 million for the remaining 10 days, June revenue growth would come in at +30% to +32%.
Bernstein had forecast GGR growth of 20% to 26% at the start of the month, which was revised to between 23% and 28% only a week ago. Macau is currently enjoying a run of 10 consecutive months of rising year-on-year revenue.
