Macau casinos’ gross gaming revenue increased by 10 percent year-on-year for July.
Last month’s results mark two years of consecutive year-on-year revenue growth in gaming in Macau, with the last decrease reported for July 2016.
According to the Macau’s Gaming Inspection and Coordination bureau today showed July’s revenue reached 25.33 billion patacas (US$ 3.14 billion).
Year-to-date revenue is up by 18% from the same point in 2017, to 175 billion patacas, as the market continues to recover from reduced revenue from 2014 to 2016.
However, month-on-month gaming gross revenue rose 12.6 percent to 25.3 billion patacas in July.Last month’s revenue was the third lowest between January and July.
Revenue in the first seven months of the year rose 17.5 percent to 175.5 billion patacas.
Growth in the VIP sector in Macau has cooled in the past couple of months; analysts suggest part of the reason behind this was down to large scale betting on the World Cup.
According to Gambling Insider website 2017 has seen a shift in attitudes from operators in Macau, as they focus more time targeting the mass market over traditional VIP bettors.
This shift has led to the mass market growing and outpacing VIP growth in the second quarter for the first time since the start of 2017.