Macau revenue continues upward trend in December
News on 1 Jan 2018
News on 1 Jan 2018
Macau gambling revenues continued to increase in December 2017, for the first time in three years achieving annualised growth following central government crackdowns on ostentatious displays of wealth by public officials and corruption.
Revenues in December 2017 rose 15 percent y-o-y to to 22.7 billion patacas, slightly lower than analysts’ expectations for growth of 17-20 percent.
Figures from Macau’s Gaming Inspection and Coordination bureau released on January 1 2018 showed full year revenues rose 19 percent year-on-year in 2017 to 265.7 billion patacas ($33.13 billion), well within analysts’ predictions.
The Chinese gambling hub is now firmly on the recovery path from five-year low revenues reached in 2014. However, current revenue gains still lag the hey days before 2014 and in particular the peaks achieved in 2011. .
Analysts had expected 2017 full-year growth of 18-20 percent.
