Macau Enjoys Second Month of Revenue Rise
Macau’s gaming revenues have exceeded expectations by rising 7.4% last month, marking the second consecutive month of growth after more than two years of decline.
The opening of new resorts by Sands China Ltd and Wynn Macau Ltd have helped to attract VIP customers whose numbers had dwindled after the start of the government campaign against displays of wealth in 2014. Last month’s revenue was $2.3 billion, far higher than the estimates which ranged from unchanged on the year to a 5% rise.
However, analysts are not sure that the upturn will last as revenue from mass market players hasn’t grown significantly and the new increases are from low-income VIP players. To try and avoid this scenario the casinos have been trying to diversify into general leisure and tourism and while there are hints that this is working there is still a long way to go.