For the first time in three years, Macau has posted positive annual gaming revenue results. The region’s revenue plummeted to an all-time low in 2014, and since has been struggling to regain its composure.
However, 2017 proved to be a different story entirely, with figures posted by Macau's Gaming Inspection and Coordination Bureau showing that revenues rose 19% to $33.31bn last year.
On an annual basis, winnings have been higher for operators such as Sands China Ltd, Wynn Macau Ltd, Galaxy Entertainment Group Ltd and Melco Resorts & Entertainment Ltd which have casinos on the Cotai strip.
In December alone, gaming receipts rose almost 15% in December to $3.7bn. Nonetheless, the final month of the year’s performance was weaker than expected.
According to Deutsche Bank Securities Inc., Macau’s GGR is set to grow by 11.3% year-on-year during 2018, with an EBITDA growth of approximately 15%. Hopefully this year Macau will be able to continue on this positive trajectory, though as proven time and time again, Macau’s high-roller market isn’t always the easiest to accurately predict.
A representative from Union Gaming stated: “We believe that volumes across virtually all segments were strong for most of December. Even the low end of the market is seeing a resurgence with notable increases in tour group volumes based on our on-the-ground observations.”