Sterne Agee raises Macau Feb. GGR estimates

    According the Sterne Agee, GGR is likely to gain between 26 and 28 percent to between 34.4 billion and 34.8 billion patacas ($4.3 billion) in February, up from an earlier estimate of growth of  between 17 to 21 percent year-on-year. The February outlook uses channel checked MOP results from the first 16 days and assumes between 85 percent and 90 percent of the fourth quarter 2013’s daily MOP for the remainder of the month as a natural slowdown occurs post the Chinese New Year holiday. Sterne Agee said mid-year 2013 capacity increases at Macau’s Gonbei border, as well as the lack of distraction from last year’s Mainland China leadership handover, have been beneficial to February results. Further, new Hengqin visitation strengthened results.