Macau Revenue Up for Fourth Straight Month

Macau's gambling revenues have struck a fourth straight month of wins, as revenues for November were 14.4% higher than they were in 2015, as new resorts have grown the industry in the second half of this year.

For the month of November, Macau casinos brought in MOP 18.79 billion, which is equivalent to $2.35 billion USD. The numbers were at the higher end of analyst expectations, as it was thought that revenues would rise 10-15%. Year to date numbers in Macau are at MOP 203.4 billion, which is down 4.3% from last year due to a Chinese crackdown on corruption and extravagance. The casino industry has pivoted by focusing on more of the Chinese middle class and by opening new resort properties.

This last month saw the Wynn Macau and Sands China casinos opening their doors, as the properties brought in a bevy of new visitors to the island destination.

Moving forward, it will be interesting to see how Macau works to continue the recovery of its gambling industry, as there had previously been multiple years of declines in revenues. Macau remains the world's largest gambling market, bringing in more than twice the revenues of its closest competitor, Las Vegas.

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bgsharpe
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7 December 2016 - 11:12pm
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Casino industry in Macau changed the approach and obviously that works, as in the news above says they are focusing on more of the Chinese middle class which is the right attitude I think and the results prove that, in the end there's limited number of VIP players even in China I guess.