CASINO

Record revenue in play for Macau this August

TAGs: Casino News, Macau, revenues, sterne agge

macau-new-thumbGross gaming revenue in Macau has reached record levels this year, with each passing month posting record numbers. None was more impressive than March 2013 when the gambling destination posted a record MOP31.3 billion in gross gaming revenue.

Since then, revenues from succeeding months have come close but ultimately fell a little short of the bar March set for Macau.

August, though, appears to be the one that’s going to come closest, if not exceed it with a late push.

Analysts responsible for pegging monthly revenue results weeks ahead of the actual number being released are bullish on August’s chances to challenge the MOP31.3 billion in gross gaming revenue that was reported in March of this year.

With half the month already done, Sterne Agee is estimating a forecast of MOP30.4 billion for August, backed by the healthy returns posted by the MOP10.4 billion in table-only gross gaming revenue in the first 11 days of the month. If Macau’s casinos keep up this pace, the final figure would breach the MOP30-billion benchmark set by March’s revenue figures and creep closer and closer to the record total of that month.

A number of other analysts appear to concur with Sterne Agee’s estimates, including Wells Fargo’s Cameron McKnight, who estimated the month to do 14 to 18 percent better than what it did compared to the same time last year.

A late push in the last two weeks of the month could still conceivably drive up August’s numbers to the point where we could all be talking about a new record gross gaming revenue month for Macau when the calendar flips to September.

It’s still in play and it’ll be very interesting how the numbers stack up as we approach the tail end of the month, turning it into probably one of the fascinating races in Macau’s now legendary revenue rush of 2013.

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