Tuesday, September 14, 2010

Macau Casino Revenue May Rise 40% to $2 Billion This Month, Macquarie Says


Casino revenue in Macau, the world’s biggest gambling hub, may grow as much as 40 % this month to about $2 billion, according to Macquarie Securities Ltd.

Macau casino sales were HK$6 billion ($773 million) in the first 12 days of September, said Gary Pinge, Macquarie’s regional head for consumer and gaming research, in a note to clients today, citing unidentified people in the gambling industry. “If the market holds up for the remainder of September, it would represent 35 % to 40 % growth year on year,” he said.

Growth for the six casino operators in the former Portuguese colony is slowing because sales in the second half of last year were higher than in the first six months as the economy rebounded. Las Vegas Sands Corp., which derived 73 % of 2009 revenue from Macau, in June forecast growth of more than 30 % for the second half, slower than the 67 % expansion in the first six months.

Casinos in Macau, the only place in China where they’re legal, may almost match August’s performance this month, Pinge said. “Macau’s gaming market is showing little sign of sequential slowdown,” he said. “Even August showed strong month-on-month growth in VIP gaming volumes.”

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