Despite typhoons Macau gambling revenues rise in August
News on 2 Sep 2017
News on 2 Sep 2017
Macau casino revenues continued to rise in August despite the disruptions of typhoons Hato and Pakhar which wreaked havoc on the gambling island.
Official figures from the government regulator Friday show that casino revenues rose 20 percent year-on-year for the 13th consecutive month of gains. Total revenues were 22.7 billion patacas ($2.82 billion) compared with the 17 to 22 percent growth that analysts estimated, taking the typhoon impact into account.
The Reuters news agency reports that the typhoons cost casinos between 5 and 7 percent in monthly gross gaming revenue, but that a strong recovery is anticipated in September.
The impact of the extreme weather was less acute along Macau’s Las Vegas-style Cotai strip due to newer infrastructure and back-up power generators, the agency notes.
Hato brought winds with speeds of over 200 kph (124 mph) which ripped through buildings, crippled critical infrastructure and caused widespread flooding, Reuters reports. Casinos will begin to return to business as usual from the coming weekend with the resumption of package tours.
