Macau on roll after lean runGaming revenue in Macau rose for the first time in three years in 2017 as high-end punters' appetite for gambling recovers after a sustained mainland campaign against shows of wealth and slowing economic growth.
Figures from Macau's Gaming Inspection and Coordination Bureau yesterday show
revenues up 19 percent for 2017 to 265.7 billion patacas
(HK$257.9 billion).The special administrative region is clambering back after revenue plunged to five-year lows in 2014. But revenue is still far off the highs hit ahead of 2014, hovering only around monthly tolls seen in 2011, data from Thomson Reuters Datastream shows.
Monthly gambling revenue in December was up 15 percent to 22.7 billion patacas compared to analysts' expectations of 17-20 percent.
Winnings have been higher for operators such as Sands China (1928), Wynn Macau (1128), Galaxy Entertainment Group (0027) and Melco Resorts & Entertainment. They have casinos on the Cotai Strip, which now boasts some of Macau's most opulent properties.
SJM Holdings (0880) and MGM China Holdings (2282), which do not have a presence on Cotai, have seen their market share erode ahead of openings there. MGM opens its new resort this month, though SJM is not likely to be on the strip until closer to 2019.
Source: REUTERS
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It's all about "how much you made when you were right" & "how little you lost when you were wrong"