Macau reported a 1.1 percent rise in gambling revenue in August, marking the first positive monthly year-over-year growth in more than two years.
Macau.- The Asian casino hub posted a 1.1 percent rise in gambling revenue in August, reaching 18.8 billion patacas (€2.15 billion). This numbers mark the first positive monthly year-over-year growth in more than two years in Macau.
August marks the first upward trend for the Macau since May 2014. The decline was blamed on the slowing economic growth in the world’s second largest economy and a major anti-graft campaign, which kept Chinese politicians and other VIP rollers from gambling in Macau due to fear of reprisal.
Last month Macau saw the opening of Wynn Palace, Wynn Macau’s €3.59 billion resort. Another multi- billion casino resort will open its doors this month with Sheldon Adelson’s Sands China €2.69 billion Parisian resort.
Boosting tourism over the summer helped bolster the mass market segment, which has become key in a market that lost its appeal for VIP rollers. However, according to analysts, significant rebound is unlikely as Macau casinos will be impacted by slow market growth and infrastructure bottle necks.