Macau casinos reach 22 pct revenue gain

Gambling revenue in Macau showed a 22 per cent increase for the month of March.

Macau.- Figures released by Macau’s Gaming Inspection and Coordination Bureau on Sunday revealed that revenues in the Chinese territory rose 22.2 per cent to US$3.2 billion. Analysts had projected a 13-18 per cent growth.

March marked a 20th consecutive month of gains, with 22.2 per cent to US3.2 billion – significantly higher than the 13 to 18 per cent growth analysts had predicted for last month’s results. The numbers also represent a 6.79 per cent increase when compared to the US$2.9 billion achieved in February 2018.

Furthermore, accumulated gross gaming revenue for the first three months of 2018 totalled US$9.3 billion, a 20.5 per cent increase compared to the same period last year.

While brokerage Sanford Bernstein had put March’s GGR at a nine to twelve per cent growth with a lower performance by Macau casinos, the original projections were changed last week as ADR reached US$98 million and increased around 30 per cent year-on-year. According to analysts, that reflected increased foot traffic as a result of junket organised spring parties.