Macau March GGR forecast cut after greater-than-forecast slowdown

    Sterne Agee has cut its forecast for Macau’s gross gambling revenue growth for March to between 14 percent and 17 percent from 18 percent previously. The firm said it had expected a slowdown, but the decline was greater than forecast. Over the past nine years March GGR has averaged about 10.2 percent better than February, but variations have been wide. For the year, Sterne Agee maintains its 16 percent GGR growth forecast, which it says may prove to be conservative. It also said it expects the consensus for Q1 earnings may rise over the next 30 days.