The mass market in Macau accelerated to grow 12 per cent in Q2 compared with the same period a year ago, with Melco Resorts and Entertainment increasing its share of EBITDA, reports Asia Gaming Brief.
According to the DICJ, a gaming regulator, gross gaming revenue was MOP73.35bn, down 3.7 per cent quarter-on-quarter and down 0.5 per cent year-on-year.
Morgan Stanley, a global financial services firm, estimates VIP revenue in the quarter down in the high single digits. Mass growth accelerated from 10 per cent posted in Q1.
The firm said it sees upside potential to Melco’s stock, given its luck-adjusted EBITDA is likely up 11 per cent, while MGM Resorts may see EBITDA down 10 per cent.