Macau Revenues Hit Two-year High In February

MACAU REVENUES HIT TWO-YEAR HIGH IN FEBRUARY

01st March, 2017 at 09:10:06
Source: http://www.azonlinecasinos.com

Recovery continues after prolonged anti-corruption drive by central Chinese government.

The month of February 2017 has seen a continuation in the improved revenues flowing from gambling operations on Macau, with the latest numbers from the regulator published Wednesday revealing that revenue hit a two-year high by the end of the month, underlining the steady recovery from a three-year drought created by an economic slowdown in China and restrictions imposed on gamblers and travellers by the central government.

New casino resorts have helped drive business by attracting mass gamblers as well as VIP spenders, and in February operators reported revenues of 23 billion patacas ($2.9 billion), up almost 18% from 19.5 billion patacas a year ago and the highest since January 2015.

The Reuters news agency reports that the increases were also due to a higher number of visitors over the national new year holiday at the start of the month.

Resorts and junket operators all reported improving revenues since the second half of 2016, with operators reiterating that their focus is now primarily on the mass market due to the steady growth of leisure visitors and the government's aim to shift away from casinos toward more family friendly activities.

More new resorts are in the pipeline for Macau as the gambling hub faces growing competition from emerging Asian casino hubs, including Japan, which passed laws legalising land casino activity in December (see previous reports).

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