16 months and counting: Revenue growth continues in Macau

16 months and counting: Revenue growth continues in Macau

Monday, December 11, 2017 Posted by Luke Massey
Casino revenues in November climbed 22.6% to $2.87 billion

Macau Casinos are closing in on a first annual growth in three years, after posting a 16th consecutive month of revenue gains in November 2017.

Data from Macau’s Gaming Inspection and Coordination Bureau showed revenues for November reached $2.87 billion, the second highest amount for 2017 and a 22.6% increase from the corresponding figure in 2016.

Having already generated $30.4 billion in the first 11 months, Macau Casinos are now expected to record a full-year revenue growth of 18-20% in 2017 for a total of $33 to $34 billion, just under a year after Morgan Stanley had forecasted gross gaming revenue (GGR) growth of just 10% for this year.

The same data firm has now has predicted that the 16-month upward trend could run unabated for the next five years, with the city’s casinos reaching a possible $53 billion in revenues by 2022.

However, there is still uncertainty over how the industry will look by 2022, particularly as each operator has a different expiration date on their gaming licence, with all of them coming up for renewal in either 2020 or 2022.

Authorities in Macau are expected to make a 2018 announcement on changes to the rules and regulations placed on those companies wishing to continue operating in the city.

Totally Gaming says: In January of this year, analysts from Morgan Stanley forecasted a 10% GGR increase for Macau Casinos, buoyed by an upturn in the second part of 2016. However, this has been far exceeded, with annual revenues expected to reach $33-34 billion. This continued resurgence will be supported the city’s burgeoning VIP segment and big-spending casual gamblers.

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