CASINO

Macau’s July revenue estimates on pace for record growth

TAGs: Casino News, gambling, Macau, revenue

macau-skyline-4Macau continues to post strong numbers heading into the second half of 2013, a clear indication that the gambling destination continues to stake its claim as the gambling mecca of the world.

For the month of July, estimates are already coming in from numerous financial analysts, one of which, research and investment house Sterne Agee, is already estimating the month to post the second highest revenue of any month in the year.

According to Sterne Agee, gross gaming revenue in Macau for July is forecasted to reach MOP29.2 billion, third only to March’s record-setting revenue get of MOP31.3 billion and May’s MOP29.6 billion numbers. Equally important with that forecasted number is if it holds true, that would indicate a 19 percent growth in gross gaming revenue from its numbers a year ago.

Sterne Agee’s forecast takes into consideration the numbers Macau has generated up to July 14, which stood at MOP12.8 billion.

The first half of the year has been a boon for Macau’s gambling business. In the first six months, the city’s casinos generated gross gaming revenue amounting to MOP171.4 billion, 15.3 percent higher compared to what it earned in the same time last year.

With July expected to post strong returns, it only adds expectations to Macau continuing on this momentum to reach its target of hitting MOP320 billion for the entire year. It’s a target that doesn’t sound so implausible, at least with the rate Macau’s form is going these days. And that even takes into account uncertainty surrounding regulations and the overall unpredictability of the global economy, proving that even with these potential clouds, Macau can still churn out gambling profit like nobody’s business.

 

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com