Macau Gambling Revenues Rise 36.4% in January

Macau's 2018 got off to a good start, as the casino groups posted a 36.4% rise in Gross Gaming Revenues for the month.

The region's gaming regulator reported the numbers, which showed that casino revenue reached MOP 26.26 billion, which was higher than MOP 19.3 billion. This beat expectations, which ranged from between 25-30%. The higher numbers were due in part to increased VIP participation, as well as the fact that the Chinese New Year fell during a different period last year.

An analyst from JP Morgan Securities spoke about the results, noting: "We estimate VIP GGR was up 50 percent year-on-year (versus 22 percent year-on-year in fourth quarter) and mass GGR was +22 percent to 24 percent year-on-year (versus +17 percent year-on-year in fourth quarter), both of which showed big accelerations from recent trends and beat recent expectations, partly helped by easy comps (given Chinese New Year calendar shift) and VIP luck."

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bgsharpe
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4 February 2018 - 12:47pm
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I guess it could be said that start of the year is more than good for the resort, almost 40% in revenues should be considered as huge I guess.