Banks estimate big falls in Q1 casino earnings

2015/4/15

From：Macau Business

Two investment banks estimate that the combined earnings before interest, tax, depreciation and amortisation of Macau’s six casino operators were about two-fifths smaller in the first quarter of this year than a year earlier.

Credit Suisse estimates in a note that combined earnings decreased by 40 per cent to HK$12.6 billion (about US$1.57 billion).

Morgan Stanley estimates that combined earnings decreased by between 37 per cent and 41 per cent.

Both banks calculate that first-quarter revenue in Macau’s VIP market for gaming contracted by nearly one-half and that first-quarter revenue in the mass market fell by about one-fifth.

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