Averaging a 3.7 % year-on-year monthly growth
Bank of America cuts Macau gaming 2012 forecast
2012-08-28
Reading time 26 seg
(Macau).- Bank of America Merrill Lynch has revised downward its full-year forecast for Macau’s gaming industry. The investment bank now expects the city’s casinos to post a gross gaming revenue growth of 11 % for the whole of 2012, down from the previous estimate of 14.5 %, it said in an investors note.
Bank of America Merrill Lynch analysts Billy Ng and Mandy Chan wrote that the downward revision is related to the slower high-stake gambling growth and slower economic recovery in the mainland.
The new forecast implies a monthly run rate of us$ 3.1 billion for the rest of the year, averaging a 3.7 % year-on-year monthly growth.
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