Macau: Casino revenue to go up in 2013
She said that while 2012 was “the year of the premium mass … 2013 will be marked by the return of the VIPs. “Leading indicators, such as fine wine prices, suggest an imminent recovery in high-end spending. Junkets also believe that pent-up VIP demand is about to be released.”
Tang wrote that she forecasts earnings of casino operators with a Cotai presence to grow between 26 percent and 30 percent this year because of the opening of the Gongbei station, the last stop of the high-speed railway link connecting Zhuhai to Guangzhou.
“Visitor growth will likely resume, making the divergence between Cotai and Peninsula more apparent,” she wrote. Tang raised Wynn Macau Ltd and Sands China Ltd to ‘buy’ from ‘hold’.
She also added Wynn Macau Ltd to her top picks along with Galaxy Entertainment Group and Melco Crown Entertainment.
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