Typhoon may hit gaming, HSBC sees Macau September revenue up as much as 12pc

Super typhoon Ragasa could disrupt Macau’s gaming industry if casinos are ordered to shut, but the city’s gross gaming revenue in September is still expected to rise as much as 12 percent year-on-year, HSBC Global Research said.

The bank estimates monthly revenue at 18.65 billion to 19.3 billion patacas (HK$19.19 billion to HK$18.76 billion), assuming daily revenue of 580 million to 650 million patacas for the rest of the month.

Gross gaming revenue for the first 21 days of September reached 13.45 billion patacas, with average daily revenue of 640 million patacas, down 10 percent from the same period in August but in line with seasonal patterns, the bank said in a research note.

HSBC kept its “buy” ratings on MGM China (2282) and Galaxy Entertainment (0027), with target prices unchanged at HK$18.8 and HK$45.5, respectively.

STAFF REPORTER