March casino gross gaming revenue growth slows

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Annual growth in casino gross gaming revenue slowed in the second week of this month, causing analysts to reduce their forecasts for the month. Sterne Agee analyst David Bain says daily table gross gaming revenue averaged MOP911 million (US$113.9 million) last week, having averaged MOP1.24 billion in the first nine days of the month. The broker has reduced its forecast of annual growth in revenue this month to between 14 percent and 17 percent from 18 percent. Wells Fargo analyst Cameron McKnight now forecasts annual growth in revenue this month will be between 12 percent and 15 percent, having previously forecast growth of between 13 percent and 18 percent.