EBITDA to grow 29 pct in Macau

Nomura said that EBITDA numbers are likely to increase 29 percent year-on-year in Macau.

Macau.- Brokerage Nomura confirmed that during the second quarter of the year casino EBITDA (earnings before interest, taxation, depreciation and amortisation) is likely to be up 29 percent to US$1.73 billion when compared to the same period in 2016.

The information revealed on Monday details that an 18 percent year-on-year rise in mass gross gaming revenue (GGR) and a 27 percent in VIP GGR during the second quarter of the year. Last week, the government information revealed that gambling revenue in Macau increased 25.9 percent to US$2.49 billion in June, which represents the eleventh consecutive month of winning streak. High roller VIPs contributed to the impressive results.

“In the past few quarters, VIP improvement has been heavily concentrated to Wynn [Macau Ltd]. For the VIP recovery to be sustainable, we will expect the VIP growth to be more spread out,” Nomura said. The brokerage from Japan also commented that the fourth could experience an 8 percent in GGR.