No new casino revenue record in January: Analysts? Due to CNY in February?
January is not likely to set a new monthly record in casino gross gaming revenue for Macau, both HSBC and Nomura analysts say.
In a note issued yesterday, analysts Sean Monaghan and Sachin Varma from HSBC said that the latest average daily run rate suggests a January gross gaming revenue figure of MOP27.8 billion (US$3.5 billion), up by 11 percent year-on-year, which is close to HSBC’s forecast for January of 12-percent growth.
However, the two analysts noted that it is difficult to predict this month’s total year-on-year growth, as the date for Chinese New Year falls in February this year, whereas in 2012 it was in January.
The current casino gross gaming revenue monthly record was set last month, at MOP28.2 billion.
Meanwhile, Japanese brokerage firm Nomura said that, factoring in the slight slowdown in casino revenue the past week, the daily run rate thus far in January suggests that the full month could come in close to MOP28 billion, up by 12 percent year-on-year.