A new monthly casino gross gaming revenue is likely to be set in October, several analysts say. Citigroup analysts led by Anil Daswani wrote in a client note dated from yesterday, that gross gambling revenue for the first 28 days of the month amounted to roughly MOP23.9 billion (US$3 billion). That led Citigroup to cut its October casino gross gaming revenue estimate to MOP27.5 billion from MOP28 billion, up by 2 percent year-on-year. Still, that would be a new all-time high. Macau’s current record for monthly casino gross gaming revenue stands at MOP26.85 billion and was set in October last year. Citigroup’s downward revision was attributed to weaker-than-forecast VIP gaming revenue. U.S.-based brokerage firm Sterne Agee also says an all-time Macau monthly record is likely, but below initial expectations. Sterne Agee’s forecasts are similar to Citigroup’s according to an industry report from analyst David Bain. “This year’s October growth stems from mass and slots versus VIP last year,” Mr Bain wrote.
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