China – Macau records first year of growth since 2014By Phil - 4 January 2018
Macau’s annual GGR increased for the first time in three years in 2017 with figures from Macau’s Gaming Inspection and Coordination bureau revealing that revenues increased by 19 per cent throughout the year to 265.7bn patacas ($33.13bn).
The year’s total is also the highest annual amount since 2014 when the city’s casinos generated GGR of MOP$351.5bn (US$44.1bn). It is the fifth highest GGR total of all time. Despite marking the 17th consecutive month of growth, the total revenue for December was lower than expected at MOP$22.7bn, representing a 14.6 per cent year-on-year increase. Analysts said the slower than expected growth was due to the volatility of high rolling gambling.
“This volatility can be driven by the luck factor or even by the timing of VIP trips, especially on the part of some of the biggest VIP players,” said Grant Govertsen, an analyst with Macau-based Union Gaming Securities Asia Ltd. “Since the growth in the market is being driven by VIP, it re-introduces the concept of volatility to monthly and quarterly results.”