nalysts 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.