Macau's gaming industry is showing signs of recovery, as July revenues were better than expected at a drop of just 4.5% when compared to last year.
The Macau Gaming Inspection and Coordination Bureau revealed that Macau's revenues for July were 17.8 billion patacas ($2.2 billion USD), which was better than predicted and shows that Macau could be rebounding, despite 25 straight months of lower revenues.
Macau has seen lower numbers due to a crackdown on Chinese extravagance and corruption, which in turn has seen fewer VIP players visiting the former Portuguese colony and largest gambling destination in the world. Because of this, Macau casinos have begun shifting focus toward middle income punters, and it looks like those numbers may be beginning to rebound as a result.
The numbers resulted in Sands China shares jumping 2.3%, although Wynn Macau dropped 2.2% on the Hong Kong stock exchange.