Published By Mia Gardner : 07 Aug 2018 | Last Updated: 24 Dec 2020
Considering Macau’s impeccable reputation, it’s no surprise that the city’s gross casino revenue income has shown a 10% year on year increase for the month of July.
July’s results marks two years of positive growth, with the last decline reported back in 2016. According to figures compiled and reported by the city’s Gaming Inspection and Coordination bureau, July’s revenue income rocketed all the way to a massive 25.33 billion MOP (or $3.14 billion).
Despite the fact that the local market experienced many challenges back in 2016, including fraud and other economic issues, Macau’s year to date revenue is up by a very impressive 18% since the same time last year. Local markets seem to have recovered from the many challenges experienced during 2016.
During previous years, the VIP high-roller market was a real force to be reckoned with in Macau. This market, which relies heavily on junket operators who entice big spenders to play at casinos in Macau, has had solid competition as a result of mass betting experienced during the recent FIFA World Cup.
For the first time since the beginning of 2017, the mass market, i.e. large scale but smaller bets, has outdone the VIP high-roller market. This has been a huge contributing factor to the two years of consecutive growth that the city’s industry has experienced.
Operators have apparently come to the realisation that the key is to find the balance between the VIP player and the mass-market player, and have now started to focus on players travelling to Macau specifically for the purpose of gambling. These players may not all be VIP high rollers, but they consistently spend large sums of money, and at the end of the day, it all adds up.
Analysts are positive that the visitors’ market is on the upswing once more after the decline caused by last year’s typhoons.