March casino revenue “in like a lion”: analysts
March continues to outperform analysts’ estimates for Macau’s gross gaming revenue.
U.S. brokerage firm Sterne Agee has raised its March year-on-year estimate to an increase of 20 percent from an earlier 14 percent, to MOP30 billion (US$3.75 billion).
Analyst David Bain wrote in a note that his March estimate is approximately 6 percent higher than Macau’s all-time monthly record set in December of last year.
“According to our checks, Macau table-only gross gaming revenue is MOP17.6 billion through March 17. Including slots, the gross gaming revenue run-rate for March is MOP33.3 billion or +~32 percent year-on-year,” he said.
RBC Capital Markets analyst John Kempf also said Macau gaming revenue for the first 17 days of March climbed 34 percent, excluding electronic table games.
Mr Kempt foresees a 21 percent year-on-year increase for March, Bloomberg reports.
Wells Fargo analyst Cameron McKnight also believes that Macau gaming revenue may rise between 19 and 24 percent, above earlier estimates of 11 to 16 percent, Bloomberg reports.