New | Macau gaming revenues rebound as casinos bet on tourists
August’s 1.1pc rise ends two-year losing streak as operators shift focus from VIP high-rollers to recreational gamblers
Macau’s gaming revenue for August rose slightly, ending a 26-month contraction streak and underscoring the latest signs of revival for the world’s largest gambling hub.
The first gambling revenue growth since May 2014 marked a much-anticipated bottoming out for Macau, after big-spending VIP punters shunned the former Portuguese colony following Beijing’s drive to root out corruption and curb ostentatious living. Macau is aiming to reshape itself into a destination that appeals to tourists and shoppers as well as high-rollers.
“It is well expected in the sense that summer has always been a good time for Macau casinos as there tends to be a growth in tourist numbers during the holiday seasons,”said Angela Han, a China Merchant Securities analyst.