April casino revenue trending up 10-11 percent

After having expanded by 25.4 percent year-on-year in March, Macau’s casino industry growth has slowed down, to low double-digit rates, two analysts say. Wells Fargo Securities says that Macau’s casino gross gaming revenue for April is trending up 11 percent year-on-year so far. In a note issued yesterday quoted by Bloomberg, Wells Fargo analyst Cameron McKnight said that possible concerns about the H7N9 flu impacting Macau are “overblown”. In a different note, Royal Bank of Canada (RBC) analyst John Kempf wrote that Macau’s casino gross gaming revenue for April is up 9.6 percent month-to-date. He sees April’s overall revenue going up by around 10 percent year-on-year. Meanwhile, Wells Fargo yesterday increased its first quarter results estimates for Sands China Ltd, Melco Crown Entertainment Ltd and Wynn Macau Ltd, on the back of strong casino revenue growth for the first three months of 2013. The investment bank continues to expect 2013 Macau casino gross gaming revenue to grow by 16 percent year-on-year.