Macau's land casinos retained their strong performance in March as the gambling industry brought in 25.9 billion patacas in revenue for the month.
The revenues were revealed by the Macau Gaming Inspection and Coordination Bureau, and showed that the destination's gambling business brought in 25.9 billion patacas ($3.2 billion USD) for the month, up 22% from the year prior. The results continued a strong performance by the betting sector, which was predicted to be 13-18% higher by analysts. For the year to date the industry is up 20.5%, having raked in 76.51 billion ($9.46 billion USD).
Commenting on the results gaming analyst Grant Govertsen said, "Even though Chinese New Year was in mid-February this year, the traditional post-CNY slowdown felt notably longer than usual this year and seemingly extended into first two weeks of March. We therefore think GGR sharply accelerated after the meetings were concluded, leading to a very strong last week of March."
VIP players continued to help boost the revenues having brought high stakes gaming to the baccarat tables that have been extremely lucrative for casinos over the years. Moving forward, it looks like the gaming industry will continue to thrive throughout 2018.