Macau slows in new year lull

Gaming revenue growth slowed last week in the typical lull before Chinese New Year, which starts on Saturday, bringing in the Year of the Rat.

Average daily revenue declined to $83.85m from month-to-date figures of $98.6m. So far this month, mass-market revenue is estimated to be up 7.9 per cent while VIP is down 15 to 17 per cent, despite a win rate of 3.3 per cent compared to a typical 2.8 per cent.

Vitaly Umansky of Bernstein continues to forecast January revenues will be from minus one per cent to up two per cent. Edward Engel of Macquarie and Andrew Lee of Jefferies forecast one to two per cent declines.

Source: Fantini’s Gaming Report