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."