Macau casinos completed their comeback in 2017, as the world’s top gambling hub recorded its first annual gaming revenue growth in three years.
On Monday, Macau’s Gaming Inspection and Coordination Bureau (DICJ) released official gaming revenue figures for the month of December and for the year as a whole. The December total came to MOP 22.7b (US $2.8b), a gain of 14.5% over the same month last year and the 17th straight month of year-on-year monthly gains.
The annual figure rose 19.5% to MOP 265.7b ($33b), snapping the three-year streak of annual gaming revenue declines that the special administrative region of China has endured since the government in Beijing ramped up its anti-corruption measures in early 2014.
That year saw revenue fall 2.6% to MOP 351.5b, marking Macau’s first ever annual revenue decline since the market opened up to western operators in 2002. The decline accelerated in 2015, falling 34.4% to MOP 230.8b, and while the market began its turnaround in mid-2016, that year’s total was still down 3.3% to MOP 223.2b.