Wells Fargo predicts flat casino revenue in August

Wells Fargo Securities estimates that Macau’s casino gaming revenue averaged MOP983 million (US$123.14 million) a day in the week ended Sunday, or 1 percent less than the week before. The stockbroker says its estimates for the first 17 days of August point to gaming revenue being about the same this month as a year ago, with VIP market revenue falling by 7 percent and mass-market revenue rising by 10 percent. Wells Fargo says trends in the Macau gaming market have turned from “choppy” to ”rocky”.