VIP, premium mass drive Macau’s gaming revenue up 23% in November

November marks the 16th consecutive month of growth for the world’s gambling hub of Macau.

Casino gross gaming revenue (GGR) in the city state grew 22.6 percent year-on-year in November to reach MOP23 billion (US$2.9 billion), according to data released by the Gaming Inspection and Coordination Bureau (DICJ). The November GGR result beat analysts’ growth estimates of 19 percent.

The latest figures brings Macau’s market tally for the first 11 months of 2017 to MOP243.04 billion, up 19.5 percent compared to the same period last year, government data showed. The 11-month total has also surpassed the MOP223.2 billion GGR that the city state’s casinos recorded for the full 2016.

High end visitors—VIPs and premium mass—are driving Macau’s growth, according to analysts who have observed “higher quality visitors replacing lower quality visitors” in the gambling hub.