Macau faces a positive end of 2016

macau

The casino licenses expire sometime between 2020 and 2022.

The third quarter of this year noted positive results after two consecutive years of crisis.

Macau.- This year would probably close with a positive perspective for casino industry in Macau, after surviving two years of bad news. Since the Chinese government of Xi Jinping has reinforced the measures against VIP services in the exclusive casino territory in 2014, the gaming venues started perceiving a deep fall in its monthly revenues.

However, international gaming companies installed in Macau faced the crisis and recently were able to recover. Although the VIP sector went through a 50 percent of decline, the Statistics and Census Service (DSEC) published yesterday positive expectations for the Chinese market. The Asian gambling hub has been perceiving a slightly increment in the casino revenues since the last few months.

The DSEC reported showed that Macau casinos are expanding by 4 percent year-on-year in real terms in the third quarter of the year. The external demand of the industry grew during the last three months, leading to a further development in exports of gaming services as well as an export of other tourism services, which rose 0.2 percent and 6.5 percent in comparison with 2015.

The investment of major casino companies, such as Sands Corporation and MGM Resorts, has boosted the Asian market and may lead to a continuous growth in the next months. As the VIP sector has been showing strict decline during 2016, new gambling venues could deposit the hope needed to completely recover from the long crisis.