Broker raises forecast of July gaming revenue drop

2015/7/29

From:Macau Business

Sterne Agee CRT has increased its forecast of the annual contraction of gaming revenue in Macau’s casinos this month.

The stockbroker now forecasts in a note that revenue will be between 33 per cent and 36 per cent lower than a year ago, having forecast before a decline of between 30 per cent and 34 per cent.

The note says Sterne Agee CRT’s channel checks indicate that table-only revenue was MOP14.86 billion (about US$1.87 billion) in the first 26 days of this month, and that this, combined with assumptions about revenue from slot machines, suggest that his month’s gross gaming revenue will turn out to be about MOP18.4 billion.

Copyright@Macau Business