Jefferies Equity Research analyst Anne Ling has predicted a significant Macau gambling revenue surge this month. The expected boost in revenue comes amid heightened activity due to conventions and special events. Discover more about the rising trends in online gambling here.
Macau Gambling Revenue Surge: Projections and Implications
Ling’s forecast estimates a 9 to 14 percent increase in June, with potential gambling revenue reaching nearly $2.5 billion. The Macanese government has already revised its casino earnings forecasts to this figure, up from an earlier $2.3 billion prediction. According to Jefferies’ data, the average daily gambling win up to June 15 was $84.8 million, marking a five percent rise from the previous week and a 29 percent jump compared to the same period last year.
The positive trajectory continues as Jefferies anticipates daily earnings of $76.7 million to $84.1 million for the rest of June. This outlook equals an impressive $2.4 billion in monthly gross gaming revenue (GGR). Interested in the latest gambling industry news? Visit American Gaming Association for more insights.
Challenges and Opportunities in Macau’s Gambling Market
While Macanese casino wins are on the rise, there are still challenges as the mass-market and VIP sectors experience a downturn. Ling attributes this growth to the premium-mass market’s robustness, though the sector’s sustainability remains uncertain amid economic unpredictability. The analyst notes that new casino properties and events bolster current trends, yet competition is heating up among concessionaires, with a shift in focus towards increased EBITDA.
As Macau continues to adapt to a dynamic gambling landscape, Ling remains optimistic about the enclave’s stability, expecting the top line to hold. Meanwhile, Las Vegas Sands, Galaxy Entertainment, and now Wynn Resorts, are poised for strong performances according to Ling’s analysis.
