Macao July gaming revenue tops 20 billion patacas in post-World Cup rebound
Macao’s Gaming Inspection and Coordination Bureau announced on Sunday that gross gaming revenue for July fell 8.4% year-over-year to 20.26 billion Macao patacas ($2.52 billion). While the latest figure was down year-on-year, the drop narrowed from June’s 12% slide, and full-month gaming receipts rose above the 20-billion-pataca mark again.
July’s gaming revenue rose 9.4% sequentially from June. The conclusion of the World Cup in the middle of last month helped to fuel a rebound in tourist and gambler volumes, driving a recovery in gaming receipts in the latter half of the month. With the World Cup finished and the summer holidays in full swing, gaming revenue for August is poised for a more substantial rebound.
Despite the drag from slipping gaming revenue in June and July, cumulative gaming receipts for the first seven months of the year reached 147.16 billion patacas, up 4.4% year-over-year. Total gaming revenue to date now stands at 62% of the government’s 236 billion pataca estimate, leaving a strong probability of meeting its full-year target.
By Lau Chi Hang
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