Macau continued its strong start to 2014 by posting gross casino revenues of MOP31.3 billion (US $3.92b) in April, the third-straight month of over MOP30 billion in earnings.
April’s total represents a 10.6 percent growth over the same month last year, beating out analyst estimates of six to eight percent growth.
For the year to date, Macau’s total casino revenue haul has reached MOP133.5 billion, 17.5 percent better than the first four months of last year. Taking into account what’s been earned and expectations for the rest of the year, it’s entirely within reach for Macau’s casinos to post gross casino revenues of over MOP400 billion (US$50.1 billion) for the first time since the former Portuguese colony opened its market to these gambling establishments.
There’s still a chance that Macau falls short of its MOP400 billion goal, as analysts remain lukewarm on their expectations for the coming year. Continued economic uncertainty in China and slower credit growth may have an impact on the VIP segment. Despite the upswing in Chinese middle class gamblers in Macau, high rollers still account for the biggest chunk of business in the casino haven, accounting for roughly two-thirds of overall revenues. Should more high rollers decide to keep their money on their pockets, it’s going to have a negative impact.
