s reported by Macau News, gross game revenue from January to June stood at MOP 150.22 billion (US$ 18.8 billion) an increase of almost 19 percent when compared with the same period in 2017 that stood at MOP 126.38 billion (U$ 15.8 billion).
According to data released today at the end of the first semester, there were 41 casinos, of which 22 were run by Sociedade de Jogos de Macau, six by Galaxy Casino, five by Venetian Macau, four by Melco Crown (Macau), two by Wynn Resorts (Macau) ) and two by MGM.
Macau gaming revenue growth is cooling down just as temperatures are heating up.
This result misses the 18 percent growth forecast by Wall Street analysts, missing now analyst forecasts two months in a row, prompting Union Gaming to cut its 2018 growth forecast to 17 percent, Las Vegas Review-Journal reports.
"Keep in mind that Macau has bad weeks all the time and one bad week doesn’t make a trend,"’ Union Gaming analyst Grant Govertsen said in a note.
Gaming revenue has risen 19 percent over the first half of the year to $18.7 billion. The June results may have been affected by lower hold as well as the World Cup, which started in the middle of the month, Govertsen said.
MGM Resorts International opened its second casino in Macau in February. Analysts hoped the $3.4 billion resort would generate enough excitement to pull in larger crowds. That hasn’t happened, Govertsen said.
‘’We’re not seeing the market-growing benefit from the most recent supply as it needs to be finished before it can begin ramping properly,’’ he said.
The weak June numbers could send shares of Las Vegas casino operators lower on Monday. Wynn Resorts Ltd. and Las Vegas Sands Corp. generate more than 50 percent of their revenue from Macau. MGM Resorts receives only 21 percent of its revenue from Macau.
Jefferies gaming analyst David Katz expects Macau gaming revenue growth to pick up later this year with the opening of the Hong Kong-Zhuhai-Macau bridge.