Sands Sees Macau’s Gambling Revenue Rising by ‘Mid-Teens’
Sands China Ltd. (1928), the Macau casino operator controlled by billionaire Sheldon Adelson, said it expects 2013 gaming revenue for the Chinese territory to exceed last year, helped by more hotel rooms and rail services.
Macau’s casino revenue growth rate should be in the “mid- teens” this year and higher than 2012, Chief Executive Officer Edward Tracy said in an interview in the city yesterday.
Gambling revenue in Macau jumped 25 percent to a record 31.3 billion patacas ($3.9 billion) in March, as casino operators expanded and added more hotel rooms to draw gamblers from China. Gaming revenue growth in the former Portuguese colony slowed to 14 percent last year from 42 percent in 2011, as the local government limited casino table additions in the only place in China where they’re legal.
“Strong Chinese economic growth and the improved liquidity should drive the gaming demand,” Lantis Li, a Hong Kong-based analyst at Capital Securities Corp. (6005) said by phone. Li also estimates 2013 Macau casino revenue growth will be in the range of 14 percent to 16 percent.
Sands China’s stock has gained 28 percent over the past year. The Macau Government Tourist Office expects about 28 million visitors this year, about the same as last year, said Helena Fernandes, director of the office. China’s avian flu outbreak hasn’t had a severe impact on tourism, she said.
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