Macau Casinos Enjoy Greater Than Expected Revenues
Last month saw double-digit growth for Macau casino gambling revenue adding to hopes that the market has recovered from its lengthy decline.
Figures released over the weekend by Macau’s Gaming Inspection and Coordination Bureau (DICJ) show the region’s casinos made revenue of $2.65 billion in March, an 18.1% improvement over the same month last year. While it is less than February’s revenue, it is still more than had been forecast and the year-on-year gain means that Macau has now had eight consecutive months of monthly revenue increases.
Later this month the DICJ will release Q1 breakdowns of how the VIP and mass market gambling performed. While VIP activity has grown recently, some analysts expect it to slow down later this year. However, there have been some announcements from Beijing which suggests that the VIPs may be steered back to Macau.