Macau's gambling rebound continued in December, as casino revenues were up 8% when compared to the same period last year, bringing in 19.8 billion patacas.
The industry results were in line with analyst expectations, with the year end results down from 2015, but recovering significantly from the first half. For the year, results were down 3.3% to 223.2 billion patacas, keeping Macau the largest gambling destination in the world.
In recent years Macau suffered drops in revenues due to Chinese clampdowns on corruption and extravagance, causing many of the VIP players that make up the majority of the revenues to head elsewhere to play. That caused a severe decline in revenues until Macau casinos began focusing more on China's growing middle class, bringing them in to the casino floors. Additionally, the clampdown by China is thought to be ending soon, which may bring back some of those coveted VIPs.
With that being said, Macau will have to re-shape itself to be more competitive in the years to come, as more neighboring countries plan to open casinos.
Casino Listings reports on Macau's financials monthly, and will do so again in February.