International edition
October 23, 2020

According to a Sterne Agee analysis

January still heading towards new record in Macau

(Macau).- January continues to head towards a new gross gaming revenue monthly record in Macau, US-based brokerage Sterne Agee says. According to its checks, table-only gross gaming revenue stood at us$ 1.5 billion through to January 13.

T

he slot inclusive gross gaming revenue run-rate puts January gross gaming revenue at us$ 18 billion, or up 19 % year-on-year, analyst David Bain wrote in a note released this week.

Still, Sterne Agee is expecting growth to slowdown in the later part of the month – it estimates 15 % growth for January. Either way, that would mean a new monthly gross gaming record for Macau. The current record was set last month, at us$ 17.1 billion – it was the first time monthly gross gaming revenue in Macau stood at above us$ 17 billion.

Meanwhile, investment bank Credit Suisse is expecting Melco Crown Entertainment to post the most upside surprise among Macau casino operators when results for the fourth quarter of 2012 start being disclosed, Bloomberg reported.

Analysts led by Gabriel Chan wrote in a client note that Melco Crown, MGM China Holdings, Sands China and SJM Holdings are all expected to post double-digit quarter-on-quarter growth in earnings before interest, taxes, depreciation and amortisation (EBITDA).

Credit Suisse also updated its 2013 estimates for Macau’s gaming industry: it now expects gross gambling revenue to rise 15.7 % year-on-year versus a previous forecast of 11.6 %.

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