Said Sterne Agee
August gaming revenue picking up in Macau
2012-08-15
Reading time 37 seg
(Macau).- Brokerage firm Sterne Agee says Macau’s casino gross gaming revenue for August is picking up, after a slow first week. In a note sent to investors this week, analyst David Bain said that according to Sterne Agee’s check channels, Macau’s table-only gross gaming revenue reached us$ 1.1 billion in the first 12 days of August.
The U.S.-based brokerage firm said that last week’s daily table gross gaming revenue averaged us$ 95.5 million versus the first six days of August average of us$ 84.4 million.
“Although August started slow, we see evidence of acceleration, attributable to the typical summer holiday travel pick-up and potentially some postponed trips due to Typhoon Vicente last month,” Bain wrote.
“However, given week one checked gross gaming revenue results, we now forecast August’s gross gaming revenue to finish near us$ 3 billion, or up 2 percent year-on-year versus our previous forecast for us$ 3.1 billion or up 4.5 percent.”
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