Macau Gambling Revenues Increase 12.5 Percent for Month of June
The recovery of the largest gambling hub in the world Macau continues. Figures releases from the Gaming Inspection and Coordination Bureau reported that gross gaming revenues increased 12.5 percent year-on-year in Macau to reach $2.8 billion for the month of June.
This represents the 23rd consecutive month of revenue growth after the much talked about Chinese crackdown on corruption that started in 2014. This 12.5 percent increase was however way lower than the 18 percent forecast by analysts which resulted in share prices of Sands China, Wynn Macau, Melco International and Galaxy Entertainment falling.
While Macau has succeeded in stabilizing the gambling market and making the former Portuguese colony less dependent on gambling, they will face competition from Japan who have passed the integrated resort implementation bill in the country’s lower house. All that is required is for the legislation to pass the upper house and this would result in legalization of regulated casinos in Japan.