Error message

  • Notice: Trying to get property of non-object in template_preprocess_imageblock_content() (line 349 of /home/agbrief/agb/sites/all/modules/imageblock/imageblock.module).
  • Notice: Trying to get property of non-object in template_preprocess_imageblock_content() (line 349 of /home/agbrief/agb/sites/all/modules/imageblock/imageblock.module).

Macau 2017 GGR jumps 19.1 percent

Macau’s gross gambling revenue jumped 19.1 percent in 2017, coming back after three years of declines, though the pace of growth moderated in December.

According to figures from the Gaming Inspection and Coordination Bureau, the cumulative total for the year was MOP 265.74 billion ($33.02 billion).

In December, GGR rose 14.6 percent, moderating from growth of 22.6 percent in November and the lowest rate of gain since January.   

Analysts from Bernstein Research said the December figure had come in lower than expectations, with an average daily rate of MOP 732 million, 5 percent below November’s rate.

The detailed breakdown figures between VIP and mass market revenue are not yet available, though most of the year, the VIP sector has lead the recovery, showing unexpected strength. Analysts say this makes monthly trends more difficult to assess.

“We continue to voice caution about the strength (and volatility) surrounding VIP. High hold rates in VIP along with continued volume strength creates volatility and lack of ability to more accurately forecast the monthly trend,” the Bernstein note added.

That said both visitation and hotel occupancy in Macau have continued to gain, with November visitation up 9 percent year on year and overnight visitors up by 10 percent. Overall occupancy hit 92.1 percent from 87.3 percent in the same month the prior year.

More news from this jurisdiction

MacauMonday, Jan 22, 2018

Macau police are planning to conduct a violent armed robbery drill at Galaxy Macau in the early hours of Tuesday morning.

MacauFriday, Jan 19, 2018

Two suspects involved in the theft of casino chips from Wynn Macau have been arrested.

MacauFriday, Jan 19, 2018

The former operators of the Beijing Imperial Palace Hotel, and it’s casino, Greek Mythology, have been fined over MOP4.4 million (US$546,568) for violating labour laws.

MacauThursday, Jan 18, 2018

The number of casino exclusion applications in Macau grew 7.1 percent in 2017, reaching a total of 376 in the year.

MacauThursday, Jan 18, 2018

Macau police are searching for a dealer who reportedly stole close to HK$48 million (US$6.1 million) worth of casino chips from Wynn Macau, local media reports.

MacauThursday, Jan 18, 2018

The Macau SAR saw total visitor arrivals grow 5.4 percent in 2017, reaching 32.6 million, said the head of Macao Government Tourism Office (MGTO), Maria Helena de Senna Fernandes on Wednesday.

MacauWednesday, Jan 17, 2018

Sands China team members and executives visited residents of Navegantes Street and Lai Chi Vun in Coloane Wednesday.