60
Gaming | Billions Race
Shifting gear T
he champagne corks ew as December ended. The casinos were toasting a year to remember
after setting a new gross gaming rev- enue record. Last month’s numbers also con rm
that a slowdown in growth is underway that is likely to last throughout the year. To those celebrating, that should not come as a surprise. Analysts and gam- ing executives had already warned it was coming.
Macau’s gaming industry ended last year with MOP267.9 billion (US$33.5
28,000 26,000 24,000 22,000 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0
itself Gaming Results: Gross Revenue In Million MOP (1HKD:1.03MOP) 24,306 18,883 18,571 19,863 20,087 20,507 20,792 24,212 24,769 21,244 26,851 23,058 23,608
The outlook for growth at Macau’s casinos over the next 12 months is less bright despite record revenues in 2011
billion) in casino gross gaming revenue, according to data from the Gaming Inspection and Coordination Bureau. The previous record had been set just a year before, when Macau’s casinos took MOP188.3 billion. In December alone, the casinos
posted MOP23.6 billion in gross gam- ing revenue – a 25 percent increase year- on-year. The number
is healthy
but it also represents the slowest year- on-year growth rate since August 2009 and it highlights a slowdown that be- gan in November. Last year’s rate of
growth of 42.2 percent year-on-year is a signi cant decrease from 2010, when the city’s gaming market expanded by 57.8 percent. For the next 12 months the indus-
try consensus for gross gaming revenue growth stands at about 15 percent. “Our base-case forecast for the Macau gaming market is growth in gross gaming rev- enue of 10 percent to 15 percent in 2012,” Standard & Poor’s Ratings Services cred- it analyst Joe Poon wrote last month. While growth in Macau will de- cline, Singapore is forecast
to be hit
Dec 2010 Jan 2011 Feb 2011 JANUARY 2012
Mar 2011 Apr 2011 May 2011 Jun 2011
Jul 2011
Aug 2011 Sep 2011 Oct 2011
Nov 2011
Dec 2011
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