Macau january revenues fail to shine

Macau’s Gaming Inspection and Coordination Bureau reported a January 2017 revenue rise of 3.1 percent, falling short of analyst’s 8.5 percent median estimate.

The lackluster results disappoint considering the advent of the week-long Chinese New Year holiday, which ends February 2, 2017.

“People are still concerned about the Chinese economy and anti-corruption,” Michael Ting, a Hong Kong-based analyst at CIMB Group Holdings Ltd told Bloomberg. “The worst is over but Macau’s recovery is going to be quite volatile and choppy.”

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