Casino revenue continues upward trend in Macau

April marked the 21st month of consecutive revenue rise in Macau and beat the forecasts once again.

Macau.- Figures released by Macau’s Gaming Inspection and Coordination Bureau revealed that gambling revenue increased 27.6 per cent in April, significantly higher than what analysts had predicted over the last four weeks.

Solid demand from Chinese players helped increase gaming revenue in the former Portuguese colony, which achieved its 21st month of consecutive rise with a 27.6 per cent increase to US$3.18 billion. Analysts had predicted that Macau would increase its revenues 18 to 22 per cent, at least five per cent less than the number revealed by the local regulator. While Macau hasn’t registered bad numbers for at least a year and a half, revenues remain far off the high reached in 2014.

Union Gaming analyst Grant Govertsen said: “With GGR growth accelerating and both VIP and mass remaining above 20 per cent growth, we remain bullish on the market and have a high degree of confidence in our 17 per cent GGR forecast for the year with a bias to the upside.”

Moreover, hotel occupancy also increased 6.3 per cent during the first quarter of the year, mainly driven by a 9.2 per cent year-on-year increase in the number of tourists (3.3 million) visiting Macau. The average occupancy rate hit 88.8 per cent, official government numbers revealed.