Gambling revenue in the world’s biggest casino hub continues to expand as Macau enters its 15th consecutive month of positive growth, hitting a three-year high.
According to data compiled by Macau’s Gaming Inspection and Coordination Bureau (DICJ), casino gross gaming revenue (GGR) increased by 22% year-on-year in October, to MOP26.63bn (US$3.31bn).
This monthly result proved to be higher than analysts’ expectations of between 13% and 18% growth, and it climbed to the highest GGR tally in three years since October 2014.
This increase may have been bolstered by the hike in the VIP segment which could be attributed to the surge of visitors who visited Macau during the Chinese national holiday, as well as the Communist party meeting held in the former Portuguese colony.
October’s results have meant that Macau has recorded almost MOP220bn ($27bn) in revenue for the first 10 months of 2017, rising 19% compared to the same period last year.
Despite a solid month for the Cotai District, Macau-based casino operator SJM posted a 16% decrease in profit in the third quarter of 2017. SJM revealed a 10% decline in EBITDA, down to $726m while gaming revenue in Q3 came flat, reaching $10bn.
Following the damage caused by a typhoon and a recent fire, the firm is not expected to open its integrated resort Grand Lisboa Palace until 2019.