Macau’s gambling revenues saw a rise of nearly 8% for November, the world’s largest casino market, rose 7.9% for the month year-on-year, boosted by strong spending from China’s emerging middle class who have continued to flock across the border to the enclave.
November’s revenue was US$3.12 billion, data from Macau’s Gaming Inspection and Co-ordination bureau showed on Monday. The figure was in line with analyst estimates predicting a 7-8% growth rate.
While growth rates have dropped from double-digit highs in the past seven months due to lower spending by big VIP gamblers, overall revenue has remained solid.
Annual revenue is expected to reach US$38 billion, more than six times that of Las Vegas.
China’s change of leadership in November has highlighted the country’s focus on battling corruption. Tighter scrutiny and regulation of money flows going into Macau and Hong Kong have been stepped up in recent months, industry players say.
Despite increased regulation and scrutiny, overall gaming revenues are not expected to drop.
Analysts are focusing on improving data from China to bolster revenues going forward. Improving transport links are also expected to bring in visitors once new rail extensions are complete, starting early next year.