Macau casino revenue stronger than expected last month

Macau casino revenue stronger than expected last month

By site_editor

Macau Daily Times (3 October) reports that Macau’s casino revenue was stronger than expected last month following disruptions caused by typhoons in August, providing momentum as the world’s largest gambling hub enters the Golden Week holidays.

Gross gaming receipts rose 16 percent to 21.4 billion patacas (USD2.7 billion) in September, according to data released by Macau’s Gaming Inspection and Coordination Bureau on Sunday. It was the 14th consecutive month of expansion, and compares with the median estimate for a 14 percent increase in a Bloomberg survey of nine analysts. Gaming revenue climbed 20 percent in August from a year earlier.

Golden Week, which started Sunday, has the potential to generate more revenue than last year. Wynn Macau Ltd. has said it expects a “very strong Golden Week” with its two properties, Wynn Macau and Wynn Palace, fully booked through the period. Parent company Wynn Resorts Ltd.’s shares on Friday closed at the highest level in more than a year after UBS analyst Robin Farley raised her price target to $174 from $149, citing strength in Macau’s high- end gaming.

Company Details

International Association of Gaming Regulators
7881 W Charleston Blvd, Suite 155
Las Vegas, NV 89117

Fax: +001 (636) 277-6665

Email Contact

Twitter Feed

Online gamblers should prove they can afford losses, report finds. Source: Credit:…
IAGR_ORG (15 hours ago)
@Ro_Smith @newscomauHQ Did you mean BREAKING? :)
IAGR_ORG (23 hours ago)
New Gambling Study into Gambling-Related Harm to Start in Glasgow on August 6th. Source: Credit: @CasinoGuardian
IAGR_ORG (Yesterday)
DSbV calls on payment providers to stop igaming transactions. Source: Credit:…
IAGR_ORG (2 days ago)
Ladbrokes boss warns gamblers could be driven onto the black market Source: Credit: @standardnews
IAGR_ORG (2 days ago)