Gaming revenues in Macau are rising beyond analysts’ expectations once again.
The latest figures suggest that March revenues will reach a record of approximately $4bn. Joe Greff of JP Morgan thinks that mass-market revenues will grow by 30 per cent and VIP will be up in double digits.
Cameron McKnight of Wells Fargo forecasts overall gaming revenues will rise 24 to 27 per cent this month, while David Bain of Sterne Agee increased his estimate for the month by two per cent to 22 per cent.
He added that he expects the outperformance of VIP to continue, especially as comparisons improve mid-year and as China’s economy and political environment improve. He forecasts 12 per cent growth in VIP this year.
