Gaming | ‘Strong start’ to July revenue, analysts say

Macau’s gaming revenue in the first ten days of July were ahead of expectations. Analysts marked the increase as “a strong start for July,” according to several research firms. Consequently, the shares of U.S. casino companies linked to Macau saw an upward trend.
Telsey Advisory analyst David Katz said in a research note that the gross gaming revenues in Macau for the month are estimated to be tracking up approximately 8.2 percent year-
over-year.
However, some analysts point out that weakness is still present in the region’s junket sector. As a result, analysts advised caution on being particularly optimistic.
“While investors could be tempted to buy Macau names into the seasonally stronger summer holiday, we continue to believe that it is too early to bottom fish,” Credit Suisse’s Macau gaming analyst Kenneth Fong said in a note Monday.