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Gaming revenue to grow 12 pct in 2017: Fitch

Fitch Ratings is forecasting Macau gaming revenue to grow 12 percent this year, with near equal contribution from the VIP and mass market.

Fitch made the forecast in its “All In: Global Gaming Handbook”, released on Wednesday.

“VIP growth has been exceeding Fitch’s expectations growing 13 percent year over year in fourth-quarter 2016 and 17 percent in first-quarter 2017,” said Fitch.

“Possible attributes to this outperformance in VIP could be stronger economic indicators on mainland, players getting acclimated to China’s corruption crackdown initiatives and China’s authorities heightened crackdown on casino marketing by foreign companies.”

On the other hand, Fitch sees the mass market to be driven mainly by healthy consumer spending, increasing room capacity, and the underpenentration of the Asia-Pacific region for the mass market segment.

“Despite being delayed, pending infrastructure projects, such as the bridge to Hong Kong, a permanent Taipa ferry terminal, a rail link to Zhuhai airport and intra city light rail, should make Macau more accessible,” the ratings agency added.

More news from this jurisdiction

MacauMonday, Jan 15, 2018

The second week of January saw stronger GGR numbers, says brokerage firm Bernstein, which has revised up its GGR estimate for the month.

MacauMonday, Jan 15, 2018

Melco Resorts & Entertainment Ltd is proud to announce the winning of three Hotelier of the Year for 2017 awards at the prestigious BMW Hotelier Awards, an annual award presentation for the hospitality sector.

MacauFriday, Jan 12, 2018

A group of gaming workers from Wynn Macau have submitted a petition to the MSAR government complaining of Wynn’s alleged tolerance of clients’ illegal smoking.

MacauTuesday, Jan 09, 2018

The Hong Kong-Zhuhai-Macau Bridge is set to open in the second quarter of 2018, according to people familiar with the matter.

MacauTuesday, Jan 09, 2018

The Adelson Family Foundation on Tuesday presented a cheque for more than $1.9 million to the University of Saint Joseph.

Elsewhere, MacauTuesday, Jan 09, 2018

Casino operator MGM recently supported a University of Macau (UM) study tour to Las Vegas.

MacauMonday, Jan 08, 2018

The first week of January saw month-to-date GGR performing slightly lower than its 2017 counterpart, according to channel checks from Bernstein.