Macau’s GGR increases in July
The results mark two years of consecutive year-on-year revenue increase in Macau.
Macau.- Numbers released by Macau’s Gaming Inspection and Coordination bureau show that gross gaming revenue (GGR) rose 10 per cent year-on-year in July to US$3.14 billion. The last decrease in revenues in Macau was reported in July 2016.
According to the official figures, year-to-date revenue increased 18 per cent to US$21.6 billion in China’s only gambling hub. Last month’s numbers mark two consecutive years of year-on-year revenue growth in Macau, as the last decrease report was in July 2016.
Analysts said that growth in the high-roller VIP segment for casino operators has moderated over the past two months, mainly because of heavy betting that took place during the FIFA World Cup, which ran from June 14th to July 15th. The mass market is also steadily growing and outpaced VIP growth in the second quarter for the first time since the start of 2017.
Earlier this week, Morgan Stanley released a note revealing that it expects the six Macau casino operators to reach a market value of US$146 billion by 2020. The brokerage explained the growth is expected to be driven by a 13 per cent revenue growth CAGR (compound annual growth rate) if it overcomes some hurdles the segment will face in the near future.
