Casino revenue likely to top MOP25 billion in July

Research house Citigroup is forecasting Macau’s casino gross gaming revenue to top MOP25 billion (US$3.1 billion) in July. Citigroup cited its sources indicating that the city’s table gross gaming revenue for the first eight days of July reached MOP6.1 billion. At the current rate, Citigroup estimates July’s monthly casino gross gaming revenue could exceed MOP25 billion, implying a growth of 5 percent year-on-year. Meanwhile, JPMorgan has cut its second quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) estimates for Sands China Ltd by 9 percent. JPMorgan analyst Joseph Greff explained the decision citing “cannibalisation” from Sands Cotai Central and slowing VIP growth.