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THE BUZZ: Casinos revenue may rise 25pct in February, Nomura says
- 2014-02-13
2014-2-12
From:Macau Daily Times
Macau casinos had a strong start during the Chinese New Year, reaching gross gaming revenue of USD172 million daily.
Nomura Securities estimates February total gaming revenue could rise by 20-25% from a year ago.
The strong Chinese New Year results should mitigate the recent worry of impact from China’s macro economy to Macau’s gross gaming revenue growth.
Macau’s gross gaming revenues during Chinese New Year (Feb 1-6) were MOP8.3 billion, implying daily revenue of HKD1.343b.
“We estimate that Feb could look +20%-25% YoY, assuming a daily table win of ~HKD 1.01b-1.07b for the rest of the month and slot revenue of HKD1.3b. ~HKD1b of daily table win is in line with recent period of non holiday demand,” the Nomura analysts said in a note yesterday.
Nomura Securities is bullish on Las Vegas Sands, Wynn and MGM. Shares of the Macau stocks pulled back briefly last week from weaker-than-expected January gaming revenue numbers.
Copyright@Macau Daily Times