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Macau gaming revenue climbed 1.5 per cent in July. But gaming revenues were growing at their slowest pace since the financial crisis in 2009, according to Reuters.Gaming revenue did rise despite expectations that Typhoon Vicente, the worst typhoon to hit Hong Kong since 1999 would deter gamblers.
Total July revenue was 24.58 billion patacas or $3.08 billion, up from 24.21 billion patacas a year ago.
Revenue was also expected to decline because of the slowdown in China. Since VIP-gaming accounts for a large part of Macau’s gaming revenues, the industry is at risk if Chinese high-end spending starts to taper off.
These chart from Citi’s Anil Daswani in a July 30th report shows the breakdown in market share and daily gross gaming revenue (GGR):
Note MPEL – Melco Crown, SJM – SJM Holdings, SCL – Sands China Limited.