Said Morgan Stanley
Macau: Gaming to grow by 17 % in Q2
2013-04-23
Reading time 36 seg
(Macau).- Investment bank Morgan Stanley is forecasting Macau’s casino sector to deliver year-on-year gross gaming revenue growth of 17 % in the second quarter of this year. In the first quarter, gaming revenue went up by 14.8 %, official data shows.
Analysts Praveen K. Choudhary and Katherine Sun wrote in a note released last Wednesday that “it seems that VIP growth that was tracking zero to negative since August 2012 is back on track,” helping to push the figures up. “We expect April to June to show normal seasonality and could result in year-on-year growth of 10 %, 20 % and 20 %, respectively,” they wrote.
Morgan Stanley expects Macau to deliver annual revenue growth of 15 % in 2013, with VIP growing at 8 % and mass growing at 30 %. “While mass growth could slow down, it is still growing faster than VIP in our view,” the two analysts wrote.
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