Macau celebrates a year of growth
Macau’s casino industry has been experiencing good results for a year, as the last economic crisis was reported in early 2016.
Macau.- Casino revenue has been growing for more than a year now in Macau, after an economic crisis that lasted two consecutive years. As revealed by Macau’s Gaming Inspection and Coordination Bureau (DICJ) this week, the casino sector, including VIP operations, generated US$2.86 billion in July.
Last month was particularly successful for Macau’s economy, as casino operators grew 29 percent in comparison with same period in 2016. The increase also surpasses 15 percent to June’s results, according to CalvinAyre. Furthermore, July’s positive reports also celebrate an entire year of growth for the industry after facing two years of decline.
Meanwhile, Macau’s VIP baccarat segment increased 34.8 percent year-on-year during the second quarter of 2017, whilst mass market GGR with slots rose 8.1 percent. Casino operators have also shown optimistic reports.
As the Japanese brokerage Nomura revealed earlier this month, the third quarter could see a 15 growth and the fourth could experience an 8 percent rise in GGR. “We lift our 2017 gaming revenue growth forecast for the second time, from 12 percent to 15 percent, after lifting it from 8 percent to 12 percent on 30 March. That was led by the solid second quarter, with GGR growth accelerating to 22 percent (from 14 percent in the first quarter),” said Nomura.
