Following a strong finish to February on the back of a post-Chinese New Year tailwind, which helped gross gaming revenues rise 4.5% year-on-year, analysts have outlined expectations of between 10% and 13% growth in March with CNY strength likely to continue early.
In a Monday note, Seaport Research Partners senior analyst Vitaly Umansky said he estimates March GGR to grow by 12.5% year-on-year on a slight 2.7% decrease in average daily revenues compared with January and February combined.
“Chinese New Year was late this year, with the China government official holiday period running 15 to 23 February and we expect some strength in March from high-end play as some high rollers stayed away during CNY,” Umansky said, although he noted that China’s NPC (National People’s Congress) from 5 to 11 March could present a headwind.
