Macau casino gaming revenue rose for the second straight month in September, lifting hopes that the world’s top casino hotspot is finally on the rebound.
Figures released Saturday by Macau’s Gaming Inspection and Coordination Bureau (DICJ) showed casino gaming revenue hitting MOP 18.4b (US $2.3b) in September, up 7.4% from the same month last year.
The results exceeded most analysts’ forecasts and continued the positive momentum established in August, which saw a 1.1% year-on-year gain that broke Macau’s 26-month streak of revenue declines. However, total gaming revenue for the nine months through September is still off 9.1% to MOP 162.8b ($20.4b).
Despite the good news, analysts are already suggesting that October will have a tough time sustaining the market’s new momentum. It’s still unconfirmed at this point, but China’s Premier Li Keqiang is reportedly planning to visit to Macau in October for a conference of ministers from China and Portuguese-speaking countries.