According to Wells Fargo

Macau VIP revenue grew 25% in March

(Macau).- According to a research note issued this week by Wells Fargo Securities, Macau’s VIP casino gross gaming revenue grew by 24.9 % year-on-year in March, to us$ 2.7 billion.
2013-04-11
Reading time 33 seg
(Macau).- According to a research note issued this week by Wells Fargo Securities, Macau’s VIP casino gross gaming revenue grew by 24.9 % year-on-year in March, to us$ 2.7 billion.

Analysts led by Cameron McKnight wrote that March VIP year-on-year comparisons were positively affected by an estimated market hold rate of 3.11 %, versus 2.79 % in March 2012.

This was the first month in 2013 in which VIP casino gross gaming revenue grew at a double-digit rate. Mass table revenue also remained strong in March, at 30 % year-on-year growth, according to Wells Fargo.

In March, Macau casino gross gaming revenue increased 25.4 % year-on-year, to us$ 3.9 billion, a new monthly high. “While Macau gaming stocks have recently underperformed the market based on Avian influenza concerns, we would be buyers based on improving fundamentals,” the Wells Fargo analysts wrote.

Leave your comment
Subscribe to our newsletter
Enter your email to receive the latest news
By entering your email address, you agree to Yogonet's Condiciones de uso and Privacy Policies. You understand Yogonet may use your address to send updates and marketing emails. Use the Unsubscribe link in those emails to opt out at any time.
Unsubscribe
EVENTS CALENDAR