Macau’s gambling revenue up in November

The latest figures indicate that gambling revenue increased 8.5% in November in Macau.

Macau.- The Gaming Inspection and Coordination Bureau (DICJ) released on Saturday its latest financial report, which shows that casino gross gaming revenue (GGR) increased 8.5% year-on-year in November.

It is estimated that the US$3.1 billion figure recorded by the bureau was boosted by a solid demand from Chinese punters keen to play in the country’s only legal casino hub. Despite a growing economic concern in China regarding the high-end VIP segment, November marked the 28th consecutive monthly rise and the fastest since August 2018.

A number of brokerages predicted last month that the total GGR growth would be placed between 5% to 10%. Brokerage Bernstein said that the expected growth rate had increased despite traffic to Macau casinos suffering during the first days of the month due to the Macau Grand Prix event.

Last week, a draft budget introduced at the Legislative Assembly in Macau showed that tax revenue from gaming operations is expected to reach the €10 million mark. The increase represents an estimated 10% rise.