There is a rose in gambling revenue in Macau, by 14% in 2018, the second consecutive year of gain as demand to wager in the Chinese territory contributed to rebound from a prolonged slump.
Revenue rose by 16.6 percent to 26.47 billions versus the 10-15 percent of estimates of analysts polled by Reuters. Revenue for the full year was 302.85 billions.
Revenue has stabilised since a period of declined, which coincided with a central government campaign against conspicuous spending among public officials.
A Sino-US trade war and slowing chinese economy will likely weigh on sentiment in the high roller VIP Segment, keeping any further revenues gains checked, analysts said.
Authorities also hoped that bridge will boost the development of Macau’s convention and exhibition business and increase overnight visitation numbers, both which help drive non gaming revenue in the gambling dependent territory.
The special administrative region has been encouraging casino operators to diversify to help broaden its economic base. At present, tax from Casino accounts for over 80% of the Macau government’s total revenue.