Credit Suisse expects January's total gaming revenue in Macau to grow by 19% to 21% year-on-year

The research report from Jefferies indicates that, as of January 25, the average daily gaming revenue in Macau was MOP 695 million, representing an 18% year-on-year increase, but a slight decline of 1% week-on-week. Channel surveys show that the gaming revenue from the mass market and VIP rooms has increased by 6% to 8% month-to-date, although the win rate has slightly decreased to between 2.4% and 2.7%.

The firm estimates that the average daily gaming revenue for the remaining days of this month will range from MOP 650 million to 720 million, implying that the total revenue for the month will reach MOP 21.7 billion to 22.1 billion, reflecting a year-on-year growth of 19% to 21%. The firm expects that the gaming companies' upcoming announcement of their fourth-quarter results for last year will rebuild short-term market confidence and holds a positive outlook for the Lunar New Year performance.

In terms of stocks, the firm remains optimistic about Wynn Macau (01128.HK), Sands China (01928.HK), Galaxy Entertainment (00027.HK), Las Vegas Sands (LVS.US), and Wynn Resorts (WYNN.US). (ss/)