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Macau Revenues Down, But Best in Nearly Two Years

The gaming mecca known as Macau had its best month in nearly two years as gambling revenues dropped just 0.1% in February to 19.5 billion patacas.

The improvement in revenues was caused by an impressive Chinese New Year, which brought in high-margin players who spent big. February's results beat analyst expectations, who predicted a fall of 2-10% from the year prior and gave the world's largest gambling market their smallest decline in the last 20 months.

Macau's gaming market has been heavily impacted over the past two years as China has cracked down on corruption, causing VIP gamblers to avoid visiting the spot, gutting the lucrative VIP market.

Commenting on the results Grant Goversten of Union Gaming Group said, "Clearly the Chinese New Year period was solid, especially as it relates to high-margin mass market business. We continued to observe higher than normal levels of mass-market foot traffic in the days and weeks after Chinese New Year ended."

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bgsharpe
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1 March 2016 - 10:53pm
#1

Don't have any idea how much are 19.5 billion patacas Tongue But it sounds a lot Joking
But seriously Macau is one of the just few places in the world when the things are just fine, I mean in the constantly dropping revenue of the land based casinos all over the world compared to the online casinos is just great for them that they are still able to be keep the interest of the punters.

caEric Luo
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2 March 2016 - 4:00pm
#2

@sharpe It is about a quarter billion USD

1 member gave thanks for this useful post: sharpe

bgsharpe
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2 March 2016 - 6:50pm
#3
Eric Luo wrote:

@sharpe It is about a quarter billion USD

Thank you Eric Luo, so it is a lot of money.

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