After several years of double digit growth, Macau’s gaming revenues, although continuing to grow, are being reported with less fanfare than what the industry has become accustomed to hearing.
For the month of August, Macau’s gaming revenues increased by 5.5 percent. Still that took revenues to $3.3 billion, according to data posted on the Macau gambling authority’s website.
Last year, for instance, casino revenues surged 42 percent to $33.5 billion, more than five times the amount earned on the Las Vegas Strip, which for years was considered the world’s gambling mecca.
For the past couple of months, reports of a major economic slowdown in China has been a cause of concern for some analysts who felt the slowdown would put in jeopardy the earnings of the Macau casinos, particularly Las Vegas Sands Corp. (LVS), Wynn Resorts Ltd. (WYNN), MGM Resorts International (MGM) and Melco Crown Entertainment Ltd. (MPEL), all of which have shares trading on the U.S. exchanges.
But, the August figures eased some concerns as the $3.3 billion was the second highest monthly total ever reported by Macau. The previous high was in October, 2011, when $3.35 billion in revenue was reported.