International edition
October 15, 2021

According to Morgan Stanley

VIP gaming growing faster than mass market in Macau

(Macau).-VIP gaming in Macau is growing faster than the mass gaming market, according to Morgan Stanley. In an investors note, analysts Praveen K. Choudhary and Calvin Ho say that last month VIP rolling chip volume went up by 72 % year-on-year. Mass revenue grew by 39 %.


verall, Macau gross gaming revenue was up 48 % year-on-year in February.

For the first two months of 2011, gross gaming revenue grew 40 % year-on-year, driven by 44 % growth in VIP revenue and 31 % in mass revenue, Choudhary and Ho said.

Morgan Stanley analysts expect Melco Crown Entertainment and Sands China to deliver 19 % and 14 % EBITDA growth quarter-on-quarter, respectively, in the first three months of 2011.

“This should drive stock outperformance in the near term for these two names,” Choudhary and Ho said.

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