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NEWS 13 December 2017

Macau continually exceeds financial targets and is set to generate $53bn by 2020

By Caroline Watson
During the first two weeks of September, Macau’s casino operations have performed remarkably well in terms of local revenue growth.

According to a report published by the International Bernstein Bank, gross gaming revenue in Macau reached $1bn, averaging out at approximately $102.3m a day in the month of December.

Last month, Macau’s gambling market was worth nearly $2.9bn according to government figures. During that period of time, winnings from gamblers had increased 22.6% year-on-year, meeting the upper value of industry estimates of between 16-22%.

November was Macau’s sixteenth consecutive month of positive results, and the month of December doesn’t seem to be ending that winning streak at this rate.

Macau is on target to collect approximately $34bn in gaming revenue this year, which is around three times higher than the market in Nevada.

Looking to the future, analysts are predicting that Macau’s casinos could generate around $53bn by 2020. According to data posted by Morgan Stanley, they predict the region's success in 2017 is only the beginning.

Despite the positive financial results, Macau casinos reported 1,074 suspicious transactions during the period January – June 2017. This figure was up 37% from the 780 cases that were reported in the year prior.

According to Macau’s Financial Intelligence Office, the region is the leading source of transaction reports such as these, accounting for 70.3% of the suspicious transactions reports in the city state.
RELATED TAGS: Land-Based | Industry | Legal & Regulatory | Financial | Casino
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