• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Macau GDP up first time in 4 years helped by gaming

Mar 01, 2018 Newsdesk Latest News, Macau, Top of the deck  


Macau GDP up first time in 4 years helped by gaming

Macau’s gross domestic product (GDP) increased by 9.1 percent year-on-year in real terms for full year 2017, said on Wednesday the city’s Statistics and Census Service. It was the first such annual rise since 2013 – when the city’s economy expanded by 11.2 percent.

The statistics bureau said the local economy’s growth in 2017 was helped by increases in exports of services and in investment. Gaming services in Macau are included in exports when calculating the city’s GDP. That is in order to reflect spending by tourists in the city’s casinos.

In 2017, exports of gaming services went up by 16.4 percent year-on-year in real terms.

Macau’s GDP performance trends in recent years have coincided with casino gross gaming revenue (GGR) trends in the city, highlighting the importance of the gaming sector to the local economy. The gaming business was negatively affected by a slump in GGR that began in June 2014 and extended for two years.

Annual casino GGR in Macau posted its first increase in 2017, after three consecutive years of annual decline: in 2016, GGR fell 3.3 percent; in 2015, it slipped 34.3 percent; and in 2014, GGR declined by 2.6 percent year-on-year.

Macau’s GDP declined by 1.2 percent in 2014; in 2015, it fell 21.6 percent; and in 2016, it slipped 0.9 percent.

Investment analysts covering the sector have attributed the GGR decline recorded in Macau between mid-2014 and mid-2016 to several factors, including the ongoing anti-corruption drive in mainland China; a slowdown in the Chinese economy; and increased scrutiny by the Macau government focused on the city’s casino junket system.

Also helping Macau’s GDP performance in 2017 was the construction of two casino resorts on Cotai. MGM Cotai, by casino operator MGM China Holdings Ltd, opened doors last month; SJM Holdings Ltd’s Grand Lisboa Palace is aimed to start operations in 2019, according to management.

In the fourth quarter of 2017, Macau’s economy expanded by 8.0 percent year-on-year in real terms, according to Tuesday’s data.


  • tweet
Related articles
  • Macau casino GGR down 9pct m-o-m in February: govt
    Macau casino GGR down 9pct m-o-m in...

    Mar 01, 2021  

  • Macau casino GGR soared in final days of CNY: brokerages
    Macau casino GGR soared in final days...

    Feb 23, 2021  

More news
  • Fitch says LVS Nevada sale slight negative, Moody’s keener
    Fitch says LVS Nevada sale slight...

    Mar 05, 2021  

  • Travel ban on casino hub Sihanoukville: reports
    Travel ban on casino hub Sihanoukville:...

    Mar 05, 2021  


Latest News

Fitch says LVS Nevada sale slight negative, Moody’s keener

Fitch says LVS Nevada sale slight negative, Moody’s keener

Mar 05, 2021  

Despite United States-based casino group Las Vegas Sands Corp (LVS) being in line to generate US$6.25 billion from the sale of its Las Vegas, Nevada assets, Fitch Ratings Inc said in a Thursday memo...
Read More
Travel ban on casino hub Sihanoukville: reports

Travel ban on casino hub Sihanoukville: reports

Mar 05, 2021  

Melco says City of Dreams in Cyprus open summer 2022

Melco says City of Dreams in Cyprus open summer 2022

Mar 05, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

“Prolonged closure of operations could derail earnings recovery and weigh on NagaCorp’s credit quality"

Junling Tan, Yu Sheng Tay and Vikas Halan

Analysts at credit rating agency Moody’s Investors Service



Most Popular

  • Lim Kok Thay, GEN Singapore execs in US$1.3mln stock awardLim Kok Thay, GEN Singapore execs in US$1.3mln stock award March 2, 2021
  • Las Vegas Sands to sell off Nevada assets for US$6.25blnLas Vegas Sands to sell off Nevada assets for US$6.25bln March 3, 2021
  • Covid-19 test cert no longer needed for Macau casino entryCovid-19 test cert no longer needed for Macau casino entry March 2, 2021
  • Galaxy Macau to add Raffles-branded hotel towerGalaxy Macau to add Raffles-branded hotel tower March 1, 2021
  • Macau casino GGR down 9pct m-o-m in February: govtMacau casino GGR down 9pct m-o-m in February: govt March 1, 2021
Copyright 2014-2021 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us