The profitability of Macau’s casino operators is expected to decline more than revenue in the third quarter of 2015.
However, results will have improved from the prior quarter due to stabilisation in the higher margin mass market, UBS said in a research note.
Overall EBITDA is seen falling 36 per cent year-on-year in Q3, that’s up two per cent from Q2. Gross gaming revenue across the board is likely to have dropped 34 per cent, improving from a drop of 37 per cent in the prior quarter, the note said.
It estimates VIP revenue was down 44 per cent, but mass revenue may have gained three per cent from the prior quarter, though will still show a drop of 22 per cent year-on-year.
Source: Asia Gaming Brief
