Macau’s casino gross gaming revenue (GGR) in May could achieve about 6% month-over-month growth, brokerage CLSA Ltd says.

“We expect May gaming total revenue of $19.7 billion [$2.45 billion] in MOPs,” CLSA analysts Jeffrey Kian and Leo Pan said in a note Friday.

The April GGR was just MOP 18.55 billion, down 4.9% from March.

“We regard [MOP19.7 billion] as achievable in May, meaning 6% growth compared to April,” the CLSA team said, adding that the market consensus represents 7% sequential growth at the monthly GGR.

CLSA’s forecast update came on Friday before news broke that it was about 8% lower than the Macau government’s forecast for a five-day holiday in mainland China that began on Wednesday, May 1.

Nevertheless, the institute observed “tremendous foot traffic” in many buildings in Kotai and downtown, including “Grand Lisboa Palace, MGM Kotai, The Londoner [Macao], Four Seasons [Macao], The Venetian [Macao], Grand Lisboa, MGM Macau, and Wynn Macao,” when the team visited Macau on Thursday.

CLSA said: “The most commonly seen minimum bets on baccarat tables were MOP 1,000 ($125) and MOP 1,500 ($187).

“For high roller rooms, minimum bets ranged from MOP3,000 ($373) to MOP10,000 ($1,246), the brokerage said.

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