Macau reveals lower gaming revenue losses in 2016
The Macau Gaming Inspection and Coordination Bureau has announced a softening of gaming industry losses during 2016.
The 223.2 billion patacas (€26.7 billion/$27.9 billion) generated during the 12 months was 3.3% lower than the amount collected in the previous year, but represented an improvement on the 34.3% drop recorded in 2015.
The market was boosted by positive performances in November and December, with gross gaming revenue in these months up 14.4% and 8% year-on-year, respectively.
Based on these results, the Bloomberg agency, citing various analysts, expects gambling revenue to increase by 7% this year, in a recovery led by mass market players.
Cameron McKnight of Wells Fargo Securities said: “We continue to believe that while the market is stabilising, we won’t see a V-shaped recovery like we did in 2010 and 2013.”
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