International edition
July 16, 2018 | Edition Nº3528

Experts compare 2017 growth with that seen in 2011

Macau's gaming revenue up 19 percent in 2017

Macau's gaming revenue up 19 percent in 2017
Wynn Macau Casino, one of the national operators showcasing revenue growth in 2017.
Macau | 01/02/2018

After revenue plunged to five-year lows in 2014, Macau is seeing light at the end of the tunnel as figures from Macau’s Gaming Inspection and Coordination bureau released on January 1st show revenues rose 19 percent for 2017 to USD 33.13 billion. Revenue from the Cotai Strip seems to have strongly supported this growth.

A

ccording to figures from Macau’s Gaming Inspection and Coordination bureau released on January 1st, gaming revenue in the Chinese territory of Macau has risen for the first time in three years in 2017, parallelly to the overall recovery of the national industry after a government campaign against shows of wealth among public officials had slowed down economic growth altogether.

According to the Bureau, revenues rose 19 percent for 2017 to USD 33.13 billion, despite analysts' expectations of seeing a full-year growth of 18-20 percent to $33 billion to $34 billion.

The former Portuguese colony and now special administrative region is clambering back after revenue plunged to five-year lows in 2014.

But revenue is still far off the highs hit ahead of 2014, hovering only around monthly tolls seen in 2011, data from Thomson Reuters Datastream showed.

Monthly gambling revenue in December was up 15 percent to 22.7 billion patacas, slightly lower than analysts’ expectations for growth of 17-20 percent.

Winnings have been higher for operators such as Sands China Ltd, Wynn Macau Ltd, Galaxy Entertainment Group Ltd and Melco Resorts & Entertainment Ltd which have casinos on the Cotai strip - a stretch of reclaimed land which now boasts some of Macau’s most opulent properties.

SJM Holdings Ltd and MGM China Holdings Ltd, which do not yet have a presence on Cotai, have seen market share erode ahead of new openings along the strip.

MGM is due to open its new resort in January 2018 while SJM is not expected to open until closer to 2019, analysts said.

Yogonet.com
Related news
Leave your comment