Analysts are narrowing their Macau gaming revenue growth estimates for June. Cameron McKnight from Wells Fargo wrote in a note to clients that based on trends through June 23, the investment bank is narrowing its Macau gaming revenue growth estimate for June to 18 percent to 21 percent year-on-year, compared to its prior 18 percent to 23 percent estimate and May’s actual 13.5 percent growth. Citigroup’s analysts led by Anil Daswani, also cut gaming revenue estimates for June to MOP28 billion (US$3.5 billion), down from MOP28.5 billion. This revised figure is still up by 20 percent year-on-year. U.S.-based brokerage firm Sterne Agee’s analyst David Bain adds that June is typically down 12 percent from May. However, the firm’s June gross gaming revenue forecast calls for just a 6 percent month-on-month decline. Mr Bain also forecasts June gross gaming revenues to end at MOP28 billion, up by 20 percent year-on-year. According to the analyst, this is explained by increased infrastructure and access, visa policy loosening and new supply, while May visitation hit its best growth (+9.1%) since January 2012.
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