the good thing no one listens to what he has to say, he knows nothing
February 18, 2014, 8:13 A.M. ET
Macau Gaming: February Revenue Growth Trends 20%+, Says Wells Fargo
By Shuli Ren
Based on Wells Fargo‘s channel checks, in the month of February through the 16th, Macau gaming revenue was “trending at the high end of our 22-27% yr/yr estimate.” The midpoint of their estimate implies 19% year-on-year growth in the VIP segment and 40% growth in the mass market.
It is interesting that Macau sees no sign of slowdown even though China is seen to tighten credit growth. This is because there is a 6-12 months lag between China’s total credit growth and the revenue performance in Macau’s VIP segment, says Wells Fargo gaming analyst Cameron McKnight. So if tight credit conditions persist in China, we could see “flattish VIP growth in early summer.”
Year-to-date, Las Vegas Sands (LVS) gained 1.6%, Melco Crown (MPEL) gained 8.7%, MGM Resorts (MGM) advanced 10.6%, and Wynn Resorts (WYNN) rallied 14.5%.