Casino gross gaming revenue (GGR) in Macau rose by 29.2 percent year-on-year in July, to MOP22.96 billion (US$2.85 billion), according to data from the city’s Gaming Inspection and Coordination Bureau, released on Tuesday.
It marked a full year of GGR growth in the market, and the biggest increase in year-on-year terms since February 2014. July’s GGR tally was up 14.9 percent month-on-month.
Several investment analysts had forecast year-on-year growth for July of approximately 30 percent.
“Macau July GGR came in above expectation,” said brokerage Sanford C. Bernstein Ltd in a note on Tuesday.
“Average daily revenue (ADR) for the month was MOP741 million (11 percent above June’s ADR of MOP666 million, 1 percent above May’s ADR of MOP734 million),” said analysts Vitaly Umansky, Zhen Gong and Yang Xie.
Macau market’s GGR tally for the first seven months of 2017 stood at MOP149.34 billion, up 18.9 percent from the prior-year period, according to the official data.
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”We have been given reason to have confidence that that our businesses [in Macau] will continue after the initial concession expiration date”
Chairman and chief executive of Wynn Macau