Macau's gaming revenues grew for the second straight year, as 2018 numbers were up 14% from 2017.
December revenues were up 16.6% from December 2017 at 26.47 billion patacas. The numbers eclipsed even the high end of analyst expectations, which were in the 10-15%. The month ended up being the 29th straight month of growth for gaming revenues in the market.
Full year numbers reached 302.85 billion patacas, which marked a second consecutive period of growth for the world's largest betting market. Moving forward, there are some reasons to be concerned with Macau's growth, as a slowing economy and continuing trade war between China and the United States could see disposable income dry up.
Macau's government derives 80% of their tax revenues from gambling, and the former Portuguese colony is looking for ways to keep the tourists coming. They are working to finish a bridge between Hong Kong and Macau, which should be ready at some point later this year.
In 2019 we'll continue to monitor Macau's financial performance and will bring the info to your screen.