May gaming revenues to grow up to 19 percent: Nomura

2013-5-8

From：Macau Business

Japanese brokerage house Nomura forecasts Macau’s gross gaming revenues to go up in the range of MOP30 (US$3.8 billion) billion to 31 billion in May.

This is an increase of between 15 and 19 percent year-on-year.

Nomura cited its sources indicating that the first five days of May delivered MOP6.5 billion of gaming revenue in Macau, implying a month-to-date run rate of MOP1.3 billion per day.

The research house said that three of those five days were public holidays. Therefore, the daily run rate could be alleviated on the back of these public holidays.

JP Morgan expects May revenue to grow in the mid-teens.

The research house said it sees plenty of potential catalysts in the near term that should continue to drive a sector re-rating, including good first quarter results that will drive earnings upgrades, and easier year-on-year growth comparisons after May.

Copyright@Macau Business