Macau Casino revenue is up 5.9 percent year-on-year in June despite the slowdown in the Chinese economy due to US-China trade war.
According to the figures released by Macau’s Gaming Inspection and Coordination, Macau Casinos generated a total of 23.8 billion ($2.95 billion) patacas in revenue.
The revenue figures for June exceeded the expectations of industry analysts. The analysts and experts had predicted an increase of 1-3 percent in the revenue.
Though the revenue was up 5.9 percent year-on-year in June, it slipped from what the gaming industry in Macau generated in May. Earlier in May, the gambling revenue in Macau was 25.95 billion Patacas.
Gaming revenue in Macau, which is considered the global gambling hub, has been suffering due to the trade war between the US and China.
Earlier in April, the year-on-year gross gaming revenue fell by 8.3 percent to 23.5bn patacas ($2.9bn). It is by far the most significant revenue drop since June 2016.
However, the dip in revenue in April wasn’t unexpected as analysts had already predicted a decline of 3 to 12 percent in revenue. After April it is the second consecutive month for which a revenue growth has been recorded.
It is being expected that the gaming revenue is picking up pace in Macau.