With US$3.16 billion (MOP25.49 billion) in the SAR’s casino coffers, May produced the fifth month of growth and the 22nd consecutive monthly rebound.
The year is looking bright for Macau’s casinos. Figures show the gaming industry revenue is up by 12.1% for May 2018 compared with the same month last year.
With US$3.16 billion (MOP25.49 billion) in the SAR’s casino coffers, May produced the fifth month of growth and the 22nd consecutive monthly rebound.
Looking back, February started the trend with a conservative 5.7% of growth, March clocked in with 22.2% and the year hit a high with April’s 27.6%.
Looking at the first five months of the year in total, the US$15.81 billion (MOP127.73 billion) shows a 20.1% increase on the same months in 2017.
However, analysts were expecting a May increase closer to 17%, and LVS and Wynn Resorts share prices fell slightly.
Explanations vary between one junket operator’s “poor VIP luck”, and illegal currency exchange raids on the Gonbei border at Zhuhai.
Looking ahead, the biggest betting event in the world, the football World Cup, starting June 14, may result in a decline in gross gaming revenue. However, Morpheus at City of Dreams is slated to open June 15, while the upcoming opening of the Hong Kong-Zhuhai-Macau Bridge is anticipated to increase visitor numbers.
To put Macau’s gaming revenue in perspective, over in Nevada, USA, home to Las Vegas among other gambling areas, April 2018’s 7.6% gaming revenue increase over the same month last year resulted in revenues of US$953.7 million.