Do February results suggest Macau is turning corner?

Do February results suggest Macau is turning corner?

Wednesday, March 2, 2016 Totally Gaming
Macau saw its smallest revenue drop in almost two years

Macau posted its best monthly gambling revenue performance since October last year and the smallest drop in growth in 20 months thanks to an increase in Lunar New Year tourists.

The Chinese resort said growth in gambling revenue in February 2016 dropped 0.1 per cent to 19.5 billion patacas (€2.2bn/US$2.4bn), the 21st consecutive monthly fall but above analysts' expectations of a fall of up to 10 per cent.

Visitor numbers increased in the first two months of the year, with the number of individual tourists from the mainland up 2.6 per cent in January, and total mainland visitors up 4.5 per cent over the week-long Lunar New Year holiday in February, government data showed.

The data lifted shares of casino operators including US-listed Las Vegas Sands, MGM Resorts, Wynn Resorts Ltd and Melco Crown. MGM last week reported a significant rise in its non-gambling revenue in Macau over the course of 2015.

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