Macau sees a 16% rise in September revenues
Macau gaming saw an increase in Gross Gaming Revenues for the month of September of 16.1% to $2.65 billion beating expectations and with the Golden Week holidays coming many believe that October will be the best since 2014.
The Gaming Inspection and Co-ordination Bureau (DICJ) released the figures on Sunday 1st October with analyst’s predicting a rise of revenues at 14% for September, “This beats consensus of 14 per cent increase (range of 11 per cent to 17 per cent increase) as the market outperformed despite the traditional pre-October holiday slowdown, as well as the lingering impact of August’s weather events,” Union Gaming analyst Grant Govertsen said.
With the September results that makes 14 consecutive months Macau has enjoyed of increased revenues with the third quarter of 2017 seeing a rise of 21.8%. VIP business is on the rise once more in Macau helping to push up revenues which had been suffering over recent years because of the Chinese Governments crack down on corruption.
With the Golden Week holiday between the 1st October and ending on the 7th many believe that October will see a rise in revenues from the previous year of at least 5%. It is expected that some 1.15 million visitors will descend on Macau for the holiday with over 900,000 coming from Mainland China alone.
