Macau’s monthly casino revenues rise despite storms

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Despite suffering through Typhoon Hato and the comparably weaker tropical storm Pakhar, the over 30 casinos in Macau reportedly saw their aggregated gross gaming revenues for August increase by 20.4% year-on-year to reach just over $2.81 billion.

According to a report from GGRAsia citing official figures from the former Portuguese enclave’s Gaming Inspection and Coordination Bureau regulator, the rise represented a 13th consecutive monthly improvement but was lower than the 24% that had been widely predicted before the inclement weather struck.

Grant Govertsen from brokerage firm Union Gaming Securities Asia Limited reportedly told GGRAsia that Macau’s aggregated gross gaming revenues for August had been “nicely above [a] recently revised consensus of plus-18%” with the industry recording a 19.1% swell year-on-year in combined takings since the start of January to approximately $21.34 billion.

“As we noted last week in our series of on-the-ground notes post-typhoon, we believed that trends were returning to normal quite quickly and still expected a growth rate of over 20% for the month,” Govertsen told GGRAsia. “We further expect September to be in the high teens. All in, the third quarter 2017 growth rate could shake out to be broadly in line with the second quarter growth rate in the low 20% range.”

Macau’s monthly casino revenues rise despite storms was last modified: September 4th, 2017 by Adam Morgan