International edition
June 23, 2021

According to analysts Sterne Agee and Wells Fargo

Macau casinos continue solid growth momentum

(Macau).- This August, Macau casino industry is on the way to reaching its second best month ever in terms of gross gaming revenue, two investment houses say. Analyst David Bain, from Sterne Agee, and Cameron McKnight, from Wells Fargo, agree that gross gaming revenue may climb around 7% year-on-year, based on the first 26 days of the month.

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ccording to the channels of U.S.-based brokerage house Sterne Agee, the city’s table-only gross gaming revenue reached us$ 2.7 billion in the first 26 days of August, analyst David Bain wrote this week in an industry report.

Mr Bain expects a decrease in average daily gross gaming revenue through the end of the month, ahead of back to school in early September. “We forecast August’s gross gaming revenue to finish between us$ 3.21 billion and us$ 3.25 billion, or up 6 to 7 percent year-on-year,” he wrote.

That would be Macau’s second best month ever, just below the all-time monthly gross gaming revenue record established in October last year, at us$ 3.29 billion. “We expect September to reach a growth of 10 percent year-on-year, though September’s absolute gross gaming revenue will decline from August marking back to school, the end of the summer travel season and anticipation of the October Golden Week holiday,” Mr Bain wrote.

Wells Fargo also says Macau’s gross gaming revenue may climb by 7 to 9 percent year-on-year, based on the first 26 days of August, according to analyst Cameron McKnight.

The upper limit of the forecast could actually mean a new monthly record for the industry.

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