International edition
September 25, 2021

To us$ 3 billion

Macau casino revenue up 12.3% in September

(Macau).- Macau has just released its gambling figures for September 2012, revealing a 12.3% increase in revenue to us$ 2.99 billion compared to us$ 2.65 billion for the same month last year.


n 2011, September’s figure represented a 39% increase over that of 2010, and although Macau’s latest monthly result was expected to be lower in comparison, the 12.3% increase was still greeted with disappointment as analysts had forecast September’s growth to be up to 17%. Instead, September proved to be the second weakest revenue figure recorded for the whole of this year.

Back in 2011, Macau recorded a 42% increase in its overall gambling revenue compare to 2010. So far for the first 9 months of 2012, total gross gaming revenue are currently up by just 14.9% compared to the same period last year, adding further to concerns over a slowdown in the Chinese economy.
As a result of September’s lackluster revenue figure, the share price of casino companies dropped, including Sands China down 3.5%; Wynn Macau down 3.3% and SJM Holdings down 3.5%. Commenting on the fall in share price’s, UOB Kay Hian analyst Victor Yip, said: “There could be some profit-taking in the short term unless there is anything positive happening on the policy side.”

Over the past five months particularly, Macau’s gambling revenue growth has fallen substantially as China’s economy has weakened compelling Chinese billionaire high-stakes gamblers to reign in their big-spending, with a knock-on effect being felt by the enclave’s casinos. Consequently, Fitch Ratings has now revised their growth forecast for the whole of 2012 downwards to 12%, while a further slowdown to 8% is expected for 2013.

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