According to Citigroup analysts
Casino revenue likely to hit new record in Macau
2012-11-02
Reading time 40 seg
(Macau).- A new monthly casino gross gaming revenue is likely to be set in October. Citigroup analysts led by Anil Daswani wrote in a client note this week that gross gambling revenue for the first 28 days of the month amounted to roughly us$ 3 billion. Still, that would be a new all-time high.
That led Citigroup to cut its monthly casino gross gaming revenue estimate to us$ 3.38 billion from us$ 3.44 billion, up by 2 percent year-on-year. Still, that would be a new all-time high.
Macau’s current record for monthly casino gross gaming revenue stands at us$ 3.30 billion and was set in October last year. Citigroup’s downward revision was attributed to weaker-than-forecast VIP gaming revenue.
Sterne Agee also says an all-time Macau monthly record is likely, but below initial expectations. The US-based brokerage firm’s forecasts are similar to Citigroup’s according to an industry report from analyst David Bain. “This year’s October growth stems from mass and slots versus VIP last year,” he wrote.
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