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NEWS 1 August 2019

Macau casinos fail to build on positive June as July revenue falls

By Tim Poole

Casinos in Macau failed to build on June’s 6% revenue growth, as gross gaming revenue fell 4% year-on-year to MOP24.45bn ($3.01bn) for July.

July’s total was the third-lowest of the year overall, as well as the third-worst growth rate of 2019.

For the year-to-date, accumulated revenue is still only 0.9% down year-on-year, at MOP173.96bn.

However, June’s revenue growth was the highest of the year so far and July’s results have not continued that momentum.

Four out of seven months have now produced year-on-year falls in revenue, perhaps demonstrating the volatility of Macau’s VIP sector.

Macau is looking to attract more diverse revenue streams outside gaming and MGM International Chairman and CEO Jim Murren recently spoke exclusively to Gambling Insider on the issue.

You can read his thoughts in the September/October edition of Gambling Insider magazine, which will be available online, in print and distributed at G2E.

RELATED TAGS: Land-Based | Casino | Financial
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