January an outstanding month for Macau gambling

The Macau gaming authorities released revenue numbers for January 2018 Thursday, reporting that revenues soared way above analysts’ predictions at 36 percent year-on-year to 26.3 billion patacas ($3.3 billion). The increase was the largest since February 2014.

Most predictions had been in the 26 to 28 percent range.The 36 percent monthly gain represents the highest in percentage terms since 2011.

The month saw high rollers and leisure gamblers headed to the island gambling hub before the Chinese New Year rush.

January’s revenues extended a growth streak to an 18th straight month, following reports by the Macau units of Las Vegas Sands Corp and Wynn Resorts Ltd. of stronger-than-expected earnings for the fourth quarter.

In 2017, the former Portuguese colony posted its first annual revenue gain in three years.

Reuters reports that despite the spectacular bounceback, Macaus gambling revenues still remain off 2014 highs, hovering around 2012s monthly levels,

The expiration of casino licences is a critical issue for operators as there is large uncertainty over the future outcome.

Government officials have said there may be a new public bidding process when they expire.