Japanese brokerage house Nomura cuts Macau forecast
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The two analysts retain their 15 percent market growth for Macau’s casino industry for full-2012.
Nomura also reduced its estimates for 2013 to 11 percent from 16 percent.
Macquarie Capital Securities analysts Gary Pinge and Elaine Lai wrote in a research note on Wednesday that “while the market has come to terms with the slowdown in VIP, we think that there may be over-optimism on mass market – which we believe started to show cracks in May.”
The two analysts retain their 15 percent market growth for Macau’s casino industry for full-2012. “We think growth expectations in Macau are going to undergo an uncomfortable adjustment phase – driving volatility,” they said.