VIP segment should remain strong
Macau: Gaming to grow 30 % in first half of 2012
2012-01-05
Reading time 42 seg
(Macau).- Union Gaming Research Macau is forecasting 30 % gross gaming revenue growth for local casinos in the first half of 2012. It also expects Sands Cotai Central to be a driver of demand, much as other new properties have driven demand previously, the most recent case being Galaxy Macau.
“We continue to believe the VIP segment should remain strong through at least the early part of 2012, as our channel checks suggest VIP demand is growing, not shrinking (despite macro China fears) with junkets asking for additional tables at many/most properties,” the investors note said.
The equity and research firm is also expecting a new gross gaming revenue record to be set by local casinos this month, as Chinese New Year festival kicks off on January 23. “We are expecting growth upwards of 50 percent in January based of gross gaming revenue in excess of us$ 3.4 billion,” Union Gaming said.
For the whole of 2012, the company is still forecasting 20 % gross gaming revenue growth for Macau, to us$ 39.3 billion.
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