The Gaming Inspection and Coordination Bureau of Macau will report March gross gaming revenue (GGR) over the weekend.
Macau is the only region in China where gambling is permitted, making it the largest gaming market in the world. In January, Macau took in $2.4 billion in gaming revenue versus $609 million for the the Las Vegas Strip.
March GGR is expected to grow in the low to mid-teens percentage after growing 17% in February and falling 16% in March of last year.
Gross gaming revenue is up 10.6% year-to-date. It has grown seven months in a row.
The market is still recovering from the government's crack down on money laundering through the VIP segment. Chinese officials are trying to make Macau a more family friendly tourist destination instead of just a gaming hub. Vegas went rough a similar transition a few decades ago.
This year, Macau will account for more than two-thirds of Wynn Resorts' (WYNN) adjusted EBITDA -- the most common measure of profit for casinos/lodging stocks. Wynn opened its third casino in the region in 2016. Last year, Macau accounted for 85% of Melco Crown's (MPEL) adjusted EBITDA, 54% for Las Vgas Sands (LVS) and 17% for MGM (MGM).
Enterprise value over EBITDA estimates for 2017 (EV/EBITDA multiples) for the group are as follows: WYNN 13.2x, LVS 12.5x, MGM 10.9%, MPEL 10.4x.