Macau Reports Slowest Period Since 2016

Macau Reports Slowest Period Since 2016

The world’s biggest and busiest gambling hub – Macau – saw their gross gambling revenue increase by only 2.8% in September…

…And though it IS an increase – it’s the slimmest one in over two years, making this the month with the slowest growth since 2016.

Ominous Clouds

In Macau’s defense, it wasn’t really their lack of prowess or judgement that caused it – it was the severe weather. All of Southeast Asia was exposed to the fierce Typhoon Mangkhut – there were 100 casualties during this huge storm…

…The Typhoon forced Macau casinos to be closed for business for 33 hours in the middle of the month. This was the first time the casinos had to close their doors for punters in 16 years. This suspension of activities cost Macau $200 million in GGR win.

Another reason why GGR is significantly lower than before is the lesser number of high-stakes bettors.

The previous lowest gross gaming revenue growth in Macau was 1.1% in August 2016.

Way Off from Predictions

It is interesting to note that analysts’ official prediction for Macau’s revenue growth in September was – 6.5%! So, it is evident just how far off target they were with this estimate.

But even so, Macau is making good time – or shall we say, good money. Since the beginning of the year, the total revenue is at $27.8 billion, which is almost as much as was gained in all of 2016. If the trends continue, Macau should gain a total of $34 billion this year…

…Meaning, it will most likely not match the previous record of 2013, when GGR mark came in at $45 billion.

Another bit of good news is that Golden Week Holiday is approaching – it begins on October 7th and always has Macau overrun with visitors, mostly from China, a country that initiated this holiday in 1999.

Approaching Golden Week, most casinos in Macau (like Wynn Palace and The Parisian) have very little vacant rooms, or none at all. During last year’s Golden Week holiday, more than 844,000 people visited Macau.

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