Macau Casinos Win $2.9 Billion In NovemberRevenue Up 20 Percent On Year With One Month To Go |
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Macau’s gambling market was worth 23 billion patacas ($2.87 billion) last month, according to government figures.
The winnings from gamblers were up 22.6 percent year-over-year, the special administrative region of China said. Macau is the world’s largest casino gambling market. The casinos are now on a winning streak lasting 16 months, which followed a long slump for the gambling industry in the former Portuguese colony.
According to a report from Reuters, the 22.6 percent year-over-year jump outpaced some industry estimates which predicted growth of 16-22 percent.
The $2.87 billion in gaming revenue is the second highest of the year. Through November, the casino industry there had 19.5 percent more in winnings than it did through the same period in 2016. Macau is on pace to do about $34 billion in gaming revenue this year. That’s about three times the market in the state of Nevada, which controls some 30 percent of the U.S. commercial casino market.
Macau’s rebound has come thanks to not only a diversification of non-gaming amenities designed to draw so-called mass market customers to the enclave, but also from a return of high-spending customers; high rollers as they are commonly referred to.
According to a report from Bloomberg, revenue from the high rollers grew more than 28 percent through September, “outpacing the mass-market segment of casual gamblers.”
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