Our fourth quarter of 2010 EBITDA estimate goes to us$ 134.2 million from us$ 99.7 million on what we believe was stronger than theoretical hold at City of Dreams and stronger than previously estimated VIP rolling chip volume at Altira,” Wells Fargo said.
“Given our revised forecast for market growth in Macau, our 2011 estimate EBITDA goes to us$ 440.5 million from us$ 396.1 million and our 2012 estimate EBITDA goes to us$ 474.1 million from us$ 379.1 million. We are also raising our year end 2011 base case valuation to us$ 8.20 from us$ 5.90,” Wells Fargo added.
