Macau’s October casino revenue was the highest since 2014
Casino revenue grew 2.6% during last month to €2.97 billion and posted an increase for the 27th month in a row.
Macau.- Casino revenue continues to increase in Macau and grew for the 27th month in a row during October. According to the Gaming Inspection and Coordination Bureau, a high demand from Chinese punters saw casino revenue jump 2.6% last month to €2.97 billion, the highest figure since 2014.
Analysts expected a flat-to-5% revenue growth and saw a moderate increase, in part fueled by the Golden Week, when visitation jumped 7% year-on-year. However, the bureau showed that the rate of growth slowed down as the high-end VIP segment has been affected by rising macro-economic concerns in the country and its future remains uncertain.
Macau’s revenues continue to recover and grow after bouncing back from a five-year low in 2014. “Even the sceptics would probably agree that Macau’s grind/casual-mass segment features some of the most attractive structural stories in China’s consumer space,” analyst with J.P Morgan DS Kim said.
The Chinese region continues to thrive around the gambling industry and is set to become the richest place in the world. According to Bloomberg, the territory will knock Qatar off the top of the list in 2020, based on figures from the International Monetary Fund.
