Double-digit revenue growth expected in Macau this month

|By:, SA News Editor

Hong Kong-traded Macau names moved higher today after JPMorgan issued a positive forecast on Macau revenue trends for March.

JP says the VIP segment is tracking at a high teens growth rate and the mass market segment is up at a low-to-mid teens growth pace. "This would make first-quarter GGR grow 11 percent to 12 percent year-on-year and 3 percent to 4 percent quarter-on-quarter, to the highest level in eight quarters: the sector’s sequential profit expansion story remains intact, in our view," reads the analyst note.

Estimates for March Macau revenue range from 9% to 15%, according to GGRAsia.

Hong Kong: Wynn Macau +3.34%, MGM China +2.01%, Sands China +1.92%, Galaxy Entertainment (OTCPK:GXYEF) +2.07%.

New York: Wynn Resorts (WYNN +0.1%), MGm Resorts (MGM +0.7%), Las Vegas Sands (LVS +0.5%), Melco Crown (MPEL +3.2%).

Subscribe for full text news in your inbox