Macau GGR rises 10% in July
Macau casinos' gross gaming revenue increased by 10% year-on-year for July.
Last month’s results mark two years of consecutive year-on-year revenue growth in China’s only hub for legal casino gambling, with the last decrease reported for July 2016.
Figures from Macau’s Gaming Inspection and Coordination bureau showed July’s revenue reached 25.33bn MOP ($3.14bn).
Year-to-date revenue is up by 18% from the same point in 2017, to 175bn MOP, as the market continues to recover from reduced revenue from 2014 to 2016, due to a suppression of fraud and economic problems among other factors.
Growth in the VIP sector in Macau has cooled in the past couple of months; analysts suggest part of the reason behind this was down to large scale betting on the World Cup.
The VIP market is dependent on junket operators, whose job it is to entice high rollers to casinos in Macau, and slower economic growth alongside other exterior factors can hinder the amount of VIP visitors to Macau.
This past year has seen a shift in attitudes from operators in Macau, as they focus more time targeting the mass market over traditional VIP bettors. This shift has led to the mass market growing and outpacing VIP growth in the second quarter for the first time since the start of 2017.
It is thought operators are keen to target the premium sector of the mass market; tourists who come directly to Macau to gamble.
Analysts expect growth to be increased again next month by up to 15%, due to reduced operations after typhoons hit the island at the end of August last year.
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