Macau gambling revenue surged 27.6 percent last month and beat analyst forecasts, helped by solid demand from mainland Chinese punters, official data showed today (Tuesday).
It’s the 21st month of consecutive rise with revenue gains in Macau tracking steadily upwards, after plunging to five-year lows due to slowing economic growth and a widespread crackdown on corruption starting in 2014.
Figures from the Gaming Inspection and Coordination Bureau (DICJ) showed revenues rose 27.6 percent to 25.73 billion patacas (USD3.18 billion) versus analyst predictions of an 18-22 percent growth.
April, traditionally the weakest month of the first four months of the year, was the second-best in 2018 after January, according to DICJ data posted today (Tuesday).
Accumulated gross revenue this year is at MOP102.24 billion ($12.6 billion) which represents a 22.2 percent increase year-on-year.
However, revenues still remain far off the highs reached in 2014, hovering only around monthly tolls seen in 2012, data from Thomson Reuters Datastream showed.
(MDT/Agencies)
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