Macau revenue rises 19 per cent in 2017
Macau casinos have seen its first revenue hike since 2013 with total revenue amounting to US$33.13 billion in 2017, up by 19 per cent.
Macau.- The Macau Gaming Inspection and Coordination bureau revealed that gaming revenue in the former Portuguese colony rose by 19 per cent in 2017 and jumped to US$33.13 billion. The hike is the first full year growth since 2013 and the largest full-year total since 2014’s US$43.7 billion.
Gross gaming revenue (GGR) posted a major contribution to the revenue increase as it rose 15 per cent to US$2.79 billion, driven by VIP gamblers’ return to Macau’s gaming tables. Nonetheless, it fell short of the 17-20 per cent projections analysts had originally calculated.
Sands China Ltd, Wynn Macau Ltd, Galaxy Entertainment Group Ltd and Melco Resorts & Entertainment Ltd have also recorded higher winnings than expected thanks to their performance on the Cotai strip.
On the other hand, SJM Holdings Ltd and MGM China Holdings Ltd, which are still not on the strip, had worse results than their peers. However, MGM will soon open its new resort this month and is set to join the first group, while SJM will have to wait until the end of the year.
