short of analyst forecasts in June<\/a> when total win came in at $2.78 billion. But it was still a 12.5 percent increase on the same month in 2017, and marked Macau’s 23rd consecutive monthly gain.<\/p>\nRegardless, casino stocks invested in Macau retracted on the June GGR news. The six casino companies licensed in the enclave, Las Vegas Sands, Wynn, MGM, Melco, Galaxy Entertainment, and SJM Holdings, traded down roughly 10 percent to 17 percent last week.<\/p>\n
Harry Curtis, an analyst with Instinet, which is a subsidiary of Nomura, says the pullback has presented a buying opportunity. Curtis says despite lowering VIP and overall GGR expectations, he still sees plenty of upside to several of the companies.<\/strong><\/span><\/p>\nCurtis has a buy rating on Melco, MGM, and Wynn.<\/p>\n","protected":false},"excerpt":{"rendered":"
Nomura analysts are slashing their Macau gross gaming revenue (GGR) yearly outlook through 2020 from 14 percent growth to nine percent. Nomura, a large Japanese financial services firm, said the reduction is due to their belief that VIP demand will continue to decline over the next two-plus years. Analysts explained in a note that “recent […]<\/p>\n","protected":false},"author":25,"featured_media":83467,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18,61],"tags":[],"acf":[],"yoast_head":"\n
Macau Gross Gaming Revenue Outlook Slashed by Leading Analyst<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n