Macau had a bang-up month of November, as Gross Gaming Revenues surged 8.5%, bringing in $3.1 billion to casino operators.
The number is up 2.6% from the month prior, but below the $3.39 billion brought in during the month of October. The largest gambling market in the world is currently up by 13.7% for the year in terms of GGR. Industry analysts have been touting the continued growth of Macau's gambling industry, with growth expected to eclipse 13% by the end of December.
Speaking about the market analysts Grant Goversten said, "[It] is important to keep in mind that as VIP continues to shrink as a percentage of total GGR (now run-rating at ~45%), the traditional big holiday months like Jan/Feb and Oct will be less dramatic than in years past World Gaming Expo Monaco scheduled for next month postponed - for an entire year."
Moving into next year, Macau is expected to grow in the single digit range. VIP gambling continues to shrink as a portion of gambling revenue, but is being replaced by middle-class betting, which reflects the realities of the Chinese economy.
We'll be following the market and will be updating readers as we get results.