Macau casinos register 12th consecutive month of growth

Macau casinos register 12th consecutive month of growth

Thursday, August 3, 2017 Posted by Luke Massey
Macau casinos
Casino revenues for Macau totalled $2.86 billion in July

Macau casinos continued their recovery by recording their 12th consecutive month of gains, with a 29.2% year-on-year gross revenue increase in July – the highest of the extended growth period.

The monthly gross revenue from games of chance in July climbed to $2.86 billion, contributing to an accumulated gross revenue (January to July) of $18.66 billion, an increase of 18.9% against the amount recorded in the same period of last year.

August 2016 marked the end of 26 months of consecutive losses and the start of a 12 month run of ensuing growth. However, Bernstein analyst Vitaly Umansky remained cautious.

“We continue to voice caution about the strength (and volatility) surrounding VIP. High hold rates in VIP along with continued volume strength creates volatility and lack of ability to more accurately forecast the monthly trend.”

Many experts credit much of the growth of Macau’s casinos to the resurgence of VIP players. Andrew Scott, CEO of Macau-based Inside Asian Gaming magazine, said: "Some of the more adventurous are returning, then others are hearing from them that it's absolutely fine to go to Macau, and that feeds off itself."

"New millionaires are made in China every day – it's like an adult rite of passage for wealthy people in China to come to Macau,” Scott added.

Totally Gaming Says: July not only marked another month of growth for Macau’s casinos, it also marked one of its most profitable months for an extended period of time. While the resurgence in VIP revenues remains a concern, concessionaires across the region are working hard to diversify in order to maintain the momentum that has been built over the past 12 months.

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