Asia

Gambling revenue in Macau rises by 8.5 per cent

Published

7 years ago

December 6, 2018

Niji Narayan

Gambling revenue in Macau rises by 8.5 per cent

Photo Source: Kieran Scott/Getty

Reading Time: < 1 minute

Gross gambling revenue (GGR) in Macau increased by 8.5 per cent, exceeding the analysts’ predictions.

Macau’s Gaming Inspection and Coordination Bureau (DICJ) released figures for the month of November revenue. It says that overall revenue was MOP25 billion ($3.1 billion) while average daily revenue was MOP833 million.

The boost in revenue in VIP sector is the main catalyst behind the growth. Bernstein, a top analyst, said, “Had hold been more normal at 3 per cent, y/y growth would have been 4 per cent. We estimate VIP GGR was up 10 per cent y/y and Mass was up 7 per cent.”

The firm also estimates that for December, growth will be between 6 and 8 per cent. It noted, however, that last year December was relatively weak.

The 2018 edition of the “Golden Week” public holiday, as well as the subsequent opening of the Hong Kong-Zhuhai-Macau Bridge, reportedly helped Macau to record a 9.2 per cent increase year-on-year in October visitor numbers to 3.15 million.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.