Macau Casinos Record Impressive Growth in Q3 of 2017

Macau Casinos Record Impressive Growth in Q3 of 2017In September, Macau posted a 16.1% revenue increase to $2.65 billion, in the process extending the gambling resort’s winning streak to 14 months. With the third quarter of 2017 complete, the Gaming Inspection and Coordination Bureau (DCIJ) has now released its results for the same 3-month period revealing an impressive 21.8% improvement in its year-on-year revenues.
Flying in the face of those analyst who at the end of Q2 predicted a downturn in the VIP market, this segment, instead, saw its business soar by 35% compared to the same period of time in 2016, with the $4.81 billion generated from VIP baccarat representing 57.7% of all gross gaming revenue produced from July to September.
In Q3, the mass-market also noted a healthy 7.4% increase in its year-on-year revenue to $3.52 billion, with baccarat up by 7% to $2.6 billion, and accounting for 31.2% of all casino GGR produced in Q3. Similarly, slot machine revenue spiked by 13.4% to $400.34 million in Q3 versus the $353.1 million generated in the third quarter of last year.
As mentioned, some gaming analysts had forecast a significant drop off in Macau’s gaming revenue for the quarter, but instead they ended up seeing their businesses improve by a collective $2.7 billion.
Helping to explain some part of the uptick in gross gaming revenue was a general expansion in the number of products offered by the casinos, with the amount of slot machines rising by 0.7% to 16,310 versus the previous quarter, and the number of live dealers also higher by 0.6% to 6,449.
One thing that the results do not include, though, is the enormous amount of damage that Typhoon Hato caused to Macau, with estimates placing the figure at around $1.42 billion. At one point, the typhoon even left half the city without essential utilities such as water and electricity, whilst also bringing the public transport network to a near standstill. Nevertheless, the monetary damage from the natural disaster was not included in the Q3 numbers as a large part of it is expected to be covered by insurance companies.
Commenting upon how to better deal with such extreme weather situations going forward, Macau Chief Executive Fernando Chui Sai-on, stated:
“It was the worst natural disaster Macau had encountered in more than 50 years. We will seek to improve our notification system, the preventive measures, and especially we shall keep a closer watch of the impact of [the] tide during typhoons.”

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