Macau casinos report September financial results

Revenue at local casinos increase 2.8%, which is significantly lower than analysts predictions.

Macau.- According to new figures released by the Macau Gaming Inspection and Coordination Bureau on Monday, gambling revenue in the Chinese territory posted a 2.8% increase in September.

The results were driven by a strong demand from Chinese betters that can only legally bet in Macau, the country’s casino hub. Last month operations were affected by the typhoon that forced casinos to close their doors by almost an entire weekend. Despite the setback, analysts had predicted that GGR was still on track to grow by the end of the month and post an increase of 3 to 10%.

However, as official figures showed, casinos increased only 2.8% to US$2.73 billion, which doesn’t even reach the lowest predictions. Nevertheless, September marks the 26th consecutive monthly gains in revenue on Macau, after five-year lows due to slow economic growth.