The Macau gaming market will see an annual average gross revenue growth rate of 16.5 percent between 2011 and 2014, according to the Macau Gaming Sector Report. The study conducted by China Galaxy International Securities (Hong Kong) Co. Ltd, says that Macau should achieve gross revenues of HK$376.2 billion (US$48.5 billion) by 2014, our sister publicationBusiness Daily reports today. The firm expects the mass market to expand by an average of 31.4 percent annually between 2011-2014 with VIP building at an average 10.8 percent. The report also says that investor concerns about a deceleration in the growth not only of Macau VIP gaming revenue but also in visitor numbers from mainland China, are overplayed. In addition, Kenneth Fong of J.P. Morgan said in another note to investors reviewing Macau’s third quarter earnings, that the revenue growth deceleration should have bottomed. After recording single-digit growth rates for two months in a row, Macau’s gross gaming revenue returned to double-digit expansion in September. Macau casinos took in MOP23.9 billion (US$3 billion) in September, up by 12.3 percent over the same period last year. The results were below the forecasts from U.S.-based brokerage firm Sterne Agee (14-percent year-on-year growth) and Royal Bank of Canada (16 percent). | 
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