By Kelsey Wilhelm
Continuing the climb
The 25.9 per cent uptick in gross gaming revenues came in below some expectations, but third quarter and full year results are estimating double digit growth
T 20 AUGUST 2017
he visit of Chinese President Xi Jinping may have slowed gross gaming revenues towards the end of the month, resulting in gross gaming revenues for June seeing a 25.9 per cent uptick, instead of a
consensus of a 30 per cent rise year-on-year. Revenues for the month hit MOP19.99 billion (US$2.48 billion), as compared to last year’s MOP15.88 billion, marking the eleventh month of consecutive increases. The results revealed by the Gaming Coordination and Inspection Bureau (DICJ) came in below consensus, but were in line with estimates by Union Gaming and Deutsche Bank. ‘As has been the case historically, second quarter
gross gaming revenue of US$7.87 billion was modestly below first quarter 2017 gross gaming revenue of US$7.94 billion,’ note the analysts, furthering that the two year comparison shows a 15.2 per cent increase for June as compared to the
11.8 per cent rise for May. Analysts at Union Gaming point out that the ‘two
high-level PRC (People’s Republic of China) visits to Macau and Hong Kong’ in the second quarter of the year may have affected revenue, which ‘would have fared better and would likely have exhibited modest sequential growth’. ‘As we head into the third quarter, we are currently
forecasting 15 per cent year-on-year growth and 2 per cent sequential growth. This includes 18 per cent growth in July, 16 per cent growth in August, and 11 per cent growth in September’. The analysts from Deutsche Bank are predicting 7 per cent year-on-year growth in the fourth quarter, but ‘are biased to the upside due to what appears to be a return to some normalcy as it relates to historic seasonal trends, as well as the benefit of new supply’. Full year expectations are for a 14 per cent year-on- year increase.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58
