GGR and hotel bookings keep Macau gaming stocks stable

HSBC says the recent market correction may have been overdone.

Macau.- A report from HSBC notes that Macau gaming operators’ stocks are holding steady, mainly thanks to stable daily gross gaming revenue (GGR) and high hotel bookings ahead of the Chinese New Year holidays.

According to the report by analysts Charlene Liu, Jessie Lu and Lauren Cai, GGR for the first 21 days of January reached MOP13bn (US$1.6bn), indicating an average daily run-rate (ADR) of MOP629m. That’s a 5 per cent increase compared to the preceding…