Macau casinos hit another revenue gain

The biggest casino hub in the world extended the winning streak in September as the facilities achieved a 16.1 percent revenue increase.

Macau.- As the government reported on Sunday, casinos in Macau extended a 14 month winning streak in September with revenue up 16.1percent. The territory started the golden week period this weekend and is expected to increase visitor traffic.

Monthly gambling revenue was US$2.66 billion in September, closer to the higher estimations that analysts reported last month, which were between 11 to 17 percent. Macau’s government is expected to release this week a 15-year plan that would increase tourism in order to rebrand Macau into a multi-day destination.

Bloomberg reported that eighty percent of Macau’s hotels are fully booked for the Golden Week national holiday that started yesterday and will continue until October 8. Three of the five stars hotels that are fully booked are Wynn Macau, Wynn Palace and MGM Macau.

Wynn Macau released a statement in which it was confirmed that the two properties were already fully booked during that period. Linda Chen, executive director and COO of Wynn Macau, said: “Our occupancy rate has always been very high. The number is almost always above 95 to 96 percent. And it is definitely fully booked during the Golden Week holiday period… We hope that [the business] is better than that of the previous year.”

Moreover, Lawrence Ho, chairman and CEO of Melco Resorts & Entertainment, added that Macau’s gaming business will be strong during the Golden Week: “China’s economy is improving, there’s more visitation to Macau, and the city has better infrastructure now.”