Asia

Casino Revenue of Macau Increases in May

Published

6 years ago

June 4, 2019

Niji Narayan

Casino Revenue of Macau Increases in May

Photo Source: timeout.com

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Macau’s Gaming Inspection and Coordination (DICJ) has reported an increase in casino revenue with €2.8 billion for May 2019. This is the highest revenue reported this year.

Gambling revenue in Macau hit a five-month high in May, despite a slower demand from high rollers and a slowdown in Macau’s economy. The US$3.21 million registered last month were higher than the €2.8 billion from May 2018, and also up from April’s €2.6 billion.

Recently, Fitch Ratings has revealed that it expects Macau gaming gross revenue (GGR) growth to be flat to low in 2019. The firm explained the industry will be negatively impacted by mainland China’s economic situation. As it decelerates, GGR will be impacted in the territory.

The International Monetary Fund (IMF) said that growth is projected at 4.3% in 2019 and will likely remain solid over the medium term at about 4%. The IMF said that the main driver of projected medium-term growth is tourism, with non-VIP tourism further expanding. It also said that there will be more subdued in VIP gaming growth.

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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.