As June ends, the gaming business in Macau appears have to have notched another big win on strength in the lucrative VIP segment.
According to Consensus Metrix, analysts are looking for Macau's June gross gaming revenues (GGR) to soar nearly 27 percent from a year ago and they see July also producing a double-digit increase. However, some analysts are predicting June could produce GGR growth as high as 33 percent compared with the year earlier.
"Channel checks through the first three weeks of June show the month is tracking to be well north of 30 percent," said Vitaly Umansky, an analyst at brokerage Sanford C. Bernstein. "The strength in the VIP side continues to surprise everybody."
That said, there were easy comparisons with June compared with a year ago, when Macau was still reeling from a downturn blamed on the Beijing government's corruption crackdown on the junket business. The so-called junkets or specialists bring in the high-value Chinese gamblers to the Macau casinos.
Macau GGR for May beat expectations and came in at 23.7 percent, well ahead of the 16.5 percent increase expected by analysts. June is expected to mark the eleventh-consecutive month of gaming growth in Macau, the world's largest gambling mecca.