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Macau Ninth Consecutive Month of Gaming Increase
- May 1, 2017 By Samantha A. -
The water from a fountain that is located in front of the Wynn Macau Casino and Resort in celebration of the fact that stocks are up more than 3 percent. Macau’s Casino total gross gaming revenue for the month of April rose a total of 16.3 percent, which actually topped analysts’ consensus for a total of 15 percent.
The MGM Resorts as well as Las Vegas Sands shares were up 1 percent for each resort.
The VIP players were the players that led the way within the world’s largest gambling mecca, with the new casino resorts in order to help draw in those high rollers.
Within the month of August, the 4.i million dollar Wynn Palace Resort and Casino opened its doors located in Cotai an area within Macau. In the month of September, the Sands opened the Parisian Macau Casino and Resort.
All three of these US based casinos reported during this past week that their first quarter earnings were strengthened with the help from Las Vegas Operations and Macau.
The month of April 2017 marked the ninth consecutive month of growth overall within the Macau gaming revenue as well as being the third consecutive month of being a double-digit growth percentage.
In the past, Macau was falling due to the government corruption crackdown within the junket business. It was the junket business that would ultimately bring in those high rollers to the Macau Casinos.
Macau is looking forward to facing generally easy comparison with the previous year period until the findings of the third quarter of 2017. The union gaming is actually forecasting that the revenue within the month of May will increase to a total of 15 percent as well as the whole second quarter to see a total of a 16 percent raise.
The gaming market started its path to recovery during October of this past year.