Macau GGR to continue upward trend in 2018
As Macau’s finances improve exponentially, it is estimated that gaming revenue will report a double digit growth in 2018.
Macau.- Lionel Leong, Secretary for Economy and Finance of Macau, predicted that the local economy will continue the 2017 upward trend and post a positive double digit growth in gross gaming revenue (GGR) in 2018.
As revealed in a statement issued by the Government Information Bureau, long said that gaming revenues continued a stable a positive trend this year and that’s one of the reasons why he’s confident about Macau’s economic situation. The higher than expected rate for 2017 led him to believe that in 2018 gaming revenues will be even better than this year’s.
Last week, Macau’s Gaming Inspection and Coordination Bureau revealed that casino revenue in October reached its highest peak in three years: whilst it was estimated a 13 to 18 percent increase, gross gaming receipts increased 22.1 percent to US$3.3 billion, considerably higher than anticipated. The casino revenue gains were the highest since October 2014, and rising from the previous year for a 15 consecutive month of revenue gains. Mainland China visitors increased 11 percent during the Golden Week, and operators like Wynn and MGM reported that all their hotel rooms had been fully booked in advance.
