Holidays changes June picture


Reports of bumper gaming revenues during last week’s Chinese holiday period led analysts to mark up their estimates for year-on-year June growth to 18 to 23 percent. John Kempf of RBC Capital, for example, raised his forecast from a range of 10-12 percent to 19-21 percent, citing good VIP and mass traffic during the holidays and higher than normal win rates.  Counterparts at Lazard, Oppenheimer, Citigroup, Wells Fargo and JPMorgan also raised their forecasts.