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Macau gross gaming revenue hits MOP29.5 billion in July

TAGs: Business, Casino News, gambling, july 2013, Macau

macau-gaming-revenue-to-doubleMacau’s gross gaming revenue continues to flex its proverbial muscles after recording its third best monthly revenue figure in history.

According to data released by Macau’s Gaming Inspection and Coordination Bureau, the gambling town generated MOP29.5 billion in gross gaming revenue in July, a number bested only by March 2013 when revenue hit a record MOP31.3 billion and May 2013 when it reached MOP29.6 billion.

This month’s revenue total is also better by an impressive 20 percent than last year’s figures, proving that more and more people are still flocking the only gambling destination in China to get their gambling juices flowing.

The final revenue total for the month also exceeded analyst forecasts, including Sterne Agee which pegged gross gaming revenue to “only” hit MOP29.2 billion. Making the month’s total even more impressive was the surge in money coming in the latter part of the month. Gross gaming revenue only stood at MOP12.8 billion in July 14, which meant that in the next 16 days, casinos raked in an impressive MOP16.4 billion.

The MOP29.2 billion total also represents a strong start to the second half of the year for Macau after  the gambling destination posted MOP171.4 billion from January to June, 15.3 percent better than what it did in the first half of 2012. The objective, at least as far as analysts and prognosticators are concerned, now is whether Macau can post an even higher gross gaming revenue total in the second half of the year.

The way things are going – January to July’s total has reached MOP200.9 billion, 15.9 percent better that its 2012 numbers in the first seven months – it sounds like nobody should be betting against Macau from hitting that number.

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