Macau: Analysts revise estimates on June revenue upward
Based on trends through June 16, Wells Fargo senior analyst Cameron McKnight estimates Macau gaming revenue growth for June is trending between 18 to 23 % year-on-year, versus his prior 8 to 12 % estimate.
In June last year, Macau recorded casino gross gaming revenue of us$ 2.9 billion. McKnight expects momentum to accelerate in the coming months, towards Well Fargo’s 2013 gaming growth estimate for Macau of 16 %.
RBC’s John Kempf says last week’s performance was positively impacted by healthy VIP turnover and higher than normal win percentages. Also pushing revenue up were positive mass market trends and the Dragon Boat Festival holiday.
Kempf also raised his June forecast. He now estimates growth to reach 19 to 21 % compared to June 2012, up from his prior forecast of 10 to 12 % growth. Citigroup Anil Daswani also lifted his forecast for June, to a year-on-year growth rate of 22 %.
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