Gaming industry experts in Macau forecast total gaming revenue to exceed $2.5 billion, up 14% year-on-year, thanks to improved performance in the VIP sector.
Macau’s more than 30 casinos reported a 7.4% year-on-year increase in total gambling revenue in August after 26 straight months of decline, while a 7.4% increase in September and a 8.8% increase since then. This represents a 14.4% increase last month to about $2.4 billion, which means the industry has already earned about $25.5 billion in the first 11 months.
According to the Macau Business Daily, gaming analysts at Wells Fargo Securities forecast average full-day earnings for the first 11 days of December at about $86.3 million, while forecast a median for the month reaching $83.2 million. The company declared that the impact “will not prolong trend growth,” but explained that the casino market at its former Portuguese residence had stabilized, showing some growth, thanks to “China’s monetary stimulus and the re-inflation of the Chinese housing bubble.”
Average daily sales in early December performed better than average in VIP business volumes, with some junket operators saying “volume increased 15% to 20%.”
Credit rating agency Telsey Advisory Group is expected to post double-digit growth in total gaming sales for the second consecutive month since 2014, but this is reportedly due to “continuity in VIP business recovery,” although it is forecast to decline.
Telsey Advisory Group also reportedly announced that Las Vegas Sands Corporation had registered a “strong” gaming volume in Paris Macao since opening a $2.5 billion property in Cotay Street in September, while Win Resorts Limited’s $4.1 billion Wynn Palace Cotay said in August it had seen a “mild opening” due to “construction disruptions that need to shrink over time.”