December Revenues Continue on the Upward Swing for Macau Gambling Industry
Macau regulators released its revenue earnings for December 2016 as well as the full 2016 gaming year. The gambling hub, according to the reports, continue to see an increase with its year-on-year figures. There was about an 8% increase for the month of December.
If you take a look at the full year, the numbers aren’t as impressive. The full year reports show there was a 3.3% decrease, $28 billion. These numbers confirm the third falling year for the market.
Industry analysts expected the full report would show declines, and they were right for the full year totals. New casino resorts that opened, according to the regulator report, contributed to the boosts for the month of December. There were more drawn in attractions triggering increases with the VIP high roller attendees.
With December and a few preceding months showing improvement, some say this is due to the Chinese corruption campaigns slowing down. If this is the case, then we should expect increased figures and revenues for the market this year. Long-term projections should consist of improvements where it needs to be such as mass market targets and a boost to the number of visitors or tourists.