According to Wells Fargo Securities
Macau: April casino revenue trending up 10-11 %
2013-04-15
Reading time 37 seg
(Macau).- After having expanded by 25.4 % year-on-year in March, Macau’s casino industry growth has slowed down, to low double-digit rates, two analysts say. Wells Fargo Securities says that Macau’s casino gross gaming revenue for April is trending up 11 % year-on-year so far.
In a note issued last week quoted by Bloomberg, Wells Fargo analyst Cameron McKnight said that possible concerns about the H7N9 flu impacting Macau are “overblown”.
In a different note, Royal Bank of Canada analyst John Kempf wrote that Macau’s casino gross gaming revenue for April is up 9.6 % month-to-date. He sees April’s overall revenue going up by around 10 % year-on-year.
Meanwhile, Wells Fargo increased its first quarter results estimates for Sands China, Melco Crown Entertainment and Wynn Macau, on the back of strong casino revenue growth for the first three months of 2013. The investment bank continues to expect 2013 Macau casino gross gaming revenue to grow by 16 % year-on-year.
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