According to Morgan Stanley analysts
No casino slowdown in Macau
2012-06-26
Reading time 25 seg
(Macau).- Morgan Stanley analysts say “there are no signs of patrons gambling less or delaying the debt owed to agents” in Macau. In a recent note, analysts Praveen Choudhary and Katherine Sun say “operators, junkets and agents [in Macau] are cautious to extend credit in an uncertain macro-economic backdrop but current growth expectation of 15 % for 2012 is defendable.”
The two analysts, who recently visited Macau, say “VIP growth may remain subdued but we do not expect a negative growth rate.”
Mr Choudhary and Ms Sun expect Macau’s casinos to report gaming gross revenue of at least us$ 3 billion, up by 15 percent year-on-year.
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