Macau’s casino market is going pedal to the metal in November with analysts falling over themselves with large growth estimates for the end of the month. Nomura, the Japanese brokerage house that always has something to say regarding the enclave, pushed their expectations of year-on-year growth to somewhere between 6 and 8 percent. The same firm think VIP revenue will increase by 2 to 5 percent with mass market far outstripping it with growth between 17 and 20 percent. Nomura are another group that think the end of the Chinese Communist Party congress will shepherd in a new period of VIP growth.
Permira Advisers have sold their final stake in Galaxy Entertainment Group after deciding to put the for sale sign up on their 5.94 percent stake. The private equity firm confirmed in a press release there will be a private sale that will complete on November 12. It signifies the first time since October 2007 that Permira won’t have any part of Galaxy. The group originally invested 20 percent before diluting it down to 12.8 percent in August 2011 and using a further sale a year later to take it to just under 6 percent. Permira’s investment in Galaxy has trebled in value over the past five years after originally seeing declines during the early stages of investment. The company confirmed to CalvinAyre.com earlier today that the sale is indeed going through and JPMorgan analyst Kenneth Fong is of the belief that it could boost shares in Galaxy, adding: “People were concerned about the placement, but now with the overhang gone, it should boost sentiment,”
3,000 underage patrons have been caught trying to gamble in Macau’s casinos since the new age limit was enforced. The enclave’s gaming regulator announced that since the new limit of 21 came in on November 1 there have been 3,000 rejections and just 19 people found on the casino floor to be gambling underage.