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Macau casino receipts grow again

Gaming revenue returned to year-on-year growth last month, yet analysts cautioned that the modest gain is a sign that the world’s largest gaming hub still faces headwinds from regional competition and trade-war uncertainties.

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UPDATED: 22 Dec 2023, 5:44 am

Gaming revenue returned to year-on-year growth last month, yet analysts cautioned that the modest gain is a sign that the world’s largest gaming hub still faces headwinds from regional competition and trade-war uncertainties.

Gross gaming revenue was 25.9 billion patacas (US$ 3.2 billion)  in May, up 1.8 percent from a year earlier, according to data released by the Gaming Inspection and Coordination Bureau (DICJ on Saturday.

Revenue in the first five months fell by 1.6 percent to 125.7 billion patacas (US$15.7 billion).

May was the gaming industry’s best revenue month so far this year. May and February were the only months that generated year-on-year growth in the first five months of the year.

Despite May’s gains, analysts say a full recovery remained elusive for Macau’s casinos.

Mainland China’s slowing economy and the US-China trade war have loomed over the special administrative region this year, ending more than two years of uninterrupted revenue growth as the high-roller segment has weakened.

The stagnant results reinforce another trend that is worrying analysts: many high rollers are being lured away by attractive rival gaming spots.

Suncity Group’s planned opening of a Vietnam resort, and Melco Resorts & Entertainment’s deal with Crown Resorts in Australia attest to the growing significance of regional diversification, analysts say.(Macaunews)

 

UPDATED: 22 Dec 2023, 5:44 am

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