To 13.5 %
HSBC revises Macau 2013 gaming estimate
2013-01-23
Reading time 33 seg
(Macau).- HSBC bank has just revised upward its growth estimate for Macau’s gaming industry for full-2013. In a note issued last week, analysts Sean Monaghan and Sachin Varma increased HSBC’s 2013 gross gaming revenue growth estimate to 13.5 percent, up from 12.9 percent.
Last year, Macau’s casinos reported gross gaming revenue of us$ 38 billion. The bank now has a full-year VIP growth estimate of 7.9 percent versus 7 percent previously, and a mass growth forecast of 26.1 percent, up from the prior 25 percent.
The two analysts also note that for the first time since the Macau market was liberalised in 2002, all six of the casino concessionaires have new projects either under construction or about to enter the construction phase. “We forecast that these new projects will involve total capital investment of around us$ 26 billion,” they wrote.
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