{"id":68813,"date":"2018-02-01T09:00:04","date_gmt":"2018-02-01T17:00:04","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=68813"},"modified":"2018-02-01T09:37:00","modified_gmt":"2018-02-01T17:37:00","slug":"macau-gambling-revenue-skyrockets-36-4-percent-january","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/macau-gambling-revenue-skyrockets-36-4-percent-january\/","title":{"rendered":"Macau Gambling Revenue Skyrockets 36.4 Percent in January"},"content":{"rendered":"

Macau gambling revenue saw its biggest year-on-year growth in almost four years in January. A gain of 36.4 percent from the same period a year ago returned the enclave\u2019s gaming economy to 2012 levels, while shattering analysts\u2019 forecasts.<\/p>\n

\"Macau
Macau will have plenty to celebrate at the forthcoming Chinese New Year celebrations and will be hoping that the forthcoming Year of the Dog is as good as the Year of the Rooster has been. (Image: China.com.cn)<\/figcaption><\/figure>\n

As the Year of the Rooster, 2017 certainly gave Macau\u2019s casino operators plenty to crow about. Not only did the sector see stable mass growth, driven by its reinvention as a family friendly destination \u2013 a necessity during the 2014-16 economic slump \u2013 but the high-rollers were back too.<\/p>\n

In fact, the VIP segment was the biggest driver of growth throughout 2017, a phenomenon that apparently blindsided analysts.<\/strong><\/p>\n

High Hopes for Lunar New Year<\/strong><\/h2>\n

January completed a string of 18 consecutive monthly gains, confirming that Macau\u2019s recovery is complete. It followed almost two years of plunging revenues as an anti-graft and ostentation crackdown<\/a>, spearheaded by Beijing, scared off high-rollers and forced the sector to pivot to the mass market.<\/p>\n

Financials updates last week from Wynn Macau and Sands China revealed better-than-expected results in Q4, although Wynn\u2019s stock has taken a bruising due to the sexual misconduct<\/a> allegations directed at Wynn Resorts\u2019 eponymous CEO.<\/p>\n

\u201cOverall revenue trends in January have been healthy,\u201d Daiwa Capital Markets analysts said in a note. \u201cWe believe this situation paves the way for a solid Lunar New Year period beginning in mid-February.\u201d<\/p><\/blockquote>\n

The Chinese New Year period is traditionally a lucrative one for Macau\u2019s casinos, and this year they\u2019re expected to improve on the disappointing results of last year\u2019s celebrations, as well as at the Golden Week Holiday in October.<\/p>\n

Notes of Caution on Macau Gambling Revenue<\/strong><\/h2>\n

Nevertheless, analysts remain cautious in their forecasts for 2008. With China still very concerned about containing capital flight, there could be a political reaction to VIP growth that could dent the VIP segment.<\/p>\n

Sanford Bernstein analysts said they believed VIP would decline later this year, leading to 8 percent growth for the gambling hub overall for\u00a02018. Despite this, long-term prospects remain good, they said. Fitch Ratings was similarly conservative in its outlook in a note on Thursday.<\/p>\n

\u201cFitch\u2019s cautious position on VIP reflects inherent volatility and the potential for an economic slowdown on mainland China,\u201d said the analyst. \u201cThe housing market [on the mainland] continues to show signs of deceleration, with housing sales turning negative year-on-year for three consecutive months in fourth quarter 2017. In addition, credit conditions are tightening.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Macau gambling revenue saw its biggest year-on-year growth in almost four years in January. A gain of 36.4 percent from the same period a year ago returned the enclave\u2019s gaming economy to 2012 levels, while shattering analysts\u2019 forecasts. As the Year of the Rooster, 2017 certainly gave Macau\u2019s casino operators plenty to crow about. Not […]<\/p>\n","protected":false},"author":42,"featured_media":68822,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"\nMacau Gambling Revenue Skyrockets 36.4 percent in January<\/title>\n<meta name=\"description\" content=\"Macau gambling revenue returns to 2012 levels as enclave reports gains of 26.4 percent over the past 12 months. 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