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Sterne Agee sees Macau GGR down 15 per cent in Jan


Sterne Agee, in a latest assessment, reported that table–only gross gaming revenue (GGR) stood at $2.4 billion in the period through to January 25, pointing to a fall of 15 percent year-on-year.

As a result the analysts are narrowing their GGR growth forecast for January down to negative 15 to 19 percent. This comes after a negative 30 percent in December.

The analysts noted the February outcome will be difficult to compare amid the Chinese New Year (CNY15) after the February 2014 GGR growth was up 40 per cent with mass GGR gaining 52 per cent.

The market is expected to closely watch outcome of the fourth quarter earnings result for Las Vegas Sands (LVS) due to be released late Wednesday (U.S. time).

The focus they say is likely to be on the extent of impact of slowing revenue in the last quarter, combined with the fixed cost nature of operations heading into the Chinese New Year on Feb 19.

 

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