MACAU BUSINESS


T


he local gaming industry posted an 18.1 per cent increase in revenue for the month of March, marking the eight consecutive month of year-on-year growth and beating expectations, as wealthy gamblers took


their chances in the territory. According to the official data released by the Gaming Inspection and Coordination Bureau (DICJ), March’s gaming revenue amounted to MOP21.2 billion (US$2.65 billion), as compared to MOP17.98 billion for the same month last year. On a month-on-month comparison, March’s


revenue, however, represents a decrease of 7.7 per cent, down from MOP22.99 billion in February. Total revenue for the first quarter of the year


reached MOP63.5 billion, a jump of 13 per cent from MOP56.2 billion one year ago. Analysts were expecting growth of between 12 per cent and 16 per cent for the month of March. In a note, analysts J.P. Morgan Securities (Asia


Pacific) Ltd estimated that year-on-year VIP growth reached “the high-20s” for the month, while the


mass market also registered an increase of some 10 per cent.


The DICJ will only release the first quarter’s


breakdown of VIP and mass revenue at a later point. For the period, the J.P. Morgan analysts believe VIP soared by 17 per cent year-on-year, while mass jumped by 10 per cent year-on-year.


According to the official data released by the DICJ, March’s gaming revenue amounted to MOP21.2 billion (US$2.65 billion)


‘As we’ve been writing for some time, junkets are seemingly enjoying an end-demand recovery from the favourable China macro backdrop of 2016 (e.g., property market rally, eased liquidity, commodity price hikes), fuelled by improved liquidity and


MAY 2017 19


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