After a subdued start to the year in January, when gross gaming revenues fell by 5.6% year-on-year to MOP$18.25 billion (US$2.27 billion), analysts are keeping a close eye on the current Chinese New Year Golden Week holiday to determine whether Macau’s gaming operators can turn it all around in February.
In a series of notes issued shortly after publication of Macau’s January GGR results on Saturday, analyst forecasts for the month of February differed significantly, from as low as MOP$19 billion (US$2.34 billion) or 3.5% year-on-year growth to as high as MOP$2.6 billion (US$3.2 billion) or 11.4% year-on-year growth.
On the more conservative side is JP Morgan, which suggested the jury is still out on whether January’s miss was a temporary blip or indicative of a lasting trend.
