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Macau 2017 GGR jumps 19.1 percent


Macau’s gross gambling revenue jumped 19.1 percent in 2017, coming back after three years of declines, though the pace of growth moderated in December.

According to figures from the Gaming Inspection and Coordination Bureau, the cumulative total for the year was MOP 265.74 billion ($33.02 billion).

In December, GGR rose 14.6 percent, moderating from growth of 22.6 percent in November and the lowest rate of gain since January.   

Analysts from Bernstein Research said the December figure had come in lower than expectations, with an average daily rate of MOP 732 million, 5 percent below November’s rate.

The detailed breakdown figures between VIP and mass market revenue are not yet available, though most of the year, the VIP sector has lead the recovery, showing unexpected strength. Analysts say this makes monthly trends more difficult to assess.

“We continue to voice caution about the strength (and volatility) surrounding VIP. High hold rates in VIP along with continued volume strength creates volatility and lack of ability to more accurately forecast the monthly trend,” the Bernstein note added.

That said both visitation and hotel occupancy in Macau have continued to gain, with November visitation up 9 percent year on year and overnight visitors up by 10 percent. Overall occupancy hit 92.1 percent from 87.3 percent in the same month the prior year.

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