April’s casino revenue could go up 16 pct: analyst

2013-4-5

From：Macau Business

Analysts at Bank of America Merrill Lynch say that Macau’s casino sector is expected to report gross gaming revenue of MOP29 billion (US$3.6 billion) for April.

That represents a year-on-year increase of 16 percent.

The investment bank wrote in a note released earlier this week that it sees potential upside to its 2013 growth forecast of 10.4 percent for the industry.

Meanwhile, analysts at JP Morgan said that Macau’s daily gaming revenue has averaged out to MOP900 million to MOP1 billion over the past six weeks.

In a note released earlier this week, they say this
could become the new base for the sector, pushing overall 2013 gross gaming revenue growth to 14 percent year-on-year.

JP Morgan says it sees several potential catalysts that should continue to drive a sector re-rating, including potentially good first quarter results, the May Golden
Week holiday period, and easier year-on-year growth comparison after May.

Copyright@Macau Business