Analysts forecast
Macau: June casino revenues to grow up to 21 %
2013-06-26
Reading time 39 seg
(Macau).- Analysts Cameron McKnight, from Wells Fargo, wrote in a note to clients that based on trends through June 23, the investment bank is narrowing its Macau gaming revenue growth estimate for June to 18 % to 21 % year-on-year, compared to its prior 18 % to 23 % estimate and May
Citigroup’s analysts led by Anil Daswani, also cut gaming revenue estimates for June to us$ 3.5 billion, down from us$ 3.48 billion. This revised figure is still up by 20 % year-on-year.
U.S.-based brokerage firm Sterne Agee’s analyst David Bain adds that June is typically down 12 % from May. However, the firm’s June gross gaming revenue forecast calls for just a 6 % month-on-month decline.
Bain also forecasts June gross gaming revenues to end at us$ 3.42 billion, up by 20 % year-on-year. According to the analyst, this is explained by increased infrastructure and access, visa policy loosening and new supply, while May visitation hit its best growth (+9.1%) since January 2012.
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