Macau’s gambling revenue rises 14 pct in 2018

The figures from 2018 mark the second consecutive year of gain in the only legal casino hub from China.

Macau.- According to information released this week by the Gaming Inspection and Coordination Bureau from Macau, gambling revenue in the territory increased 14% in 2018, which marks the second consecutive year of gain.

The bureau showed that December was the 19th straight month where revenue in the gambling hub increased when compared to the same month a year before. While estimations from analysts polled by Reuters earlier in December showed that there would be a 10 to 15% increase, revenue increased 16.6$ to €2.8 billion, reaching the €32.9 billion figure for the full year.

Bernstein Research indicates that the slowdown in China’s economy may affect the gross gaming revenue from January, which is expected to be ranged from -2% to 2%.

Grant Govertsen, Union Gaming analyst, said: “As we look into the first quarter of 2019, and contemplate the timing of Chinese New Year, we would not be surprised if January was flattish and February was up in the mid/high single digits. For the whole of first quarter we are forecasting an increase of 4% in GGR, followed by mid-single digits for the balance of the year.”