Macau finishes 2016 on a high note

Experts predicted that GGR for December will rise more than 10 percent.

Macau.- According to a report issued by Macau Business Daily, December aggregated gross gaming revenues (GGR) could rise to 14 percent year-on-year and top the US$2.5 billion registered in 2015. Specialists believe that the VIP sector influenced the growth.

The report explains that in the element months prior to December, the gambling industry has brought in more than US$25.5 billion. Gaming analysts from Wells Fargo Securities expect average daily revenues for the first days of December at US$86.3 million, and US$83.2 million for the whole month. According to the company, VIP performances helped get a 15 to 20 percent growth in volumes.

After 25 months of decline, Macau experienced in August a 1.1 percent growth in aggregated gross gambling revenues. In November, the accumulated casino gross gambling revenue registered US$24.9 billion in incomes, almost a 4.3 percent year-on-year decline from the same period in 2015. Credit analyst at S&P, Sophie Lin, had said that the opening and ramping up of new casinos, better infrastructure connecting the territory with mainland China, and stabilizing regulations are the major factors that will fuel a rebound in the gaming industry.