The Inspection and Coordination Bureau reports that September gaming revenue in China’s gambling enclave was up 38.8% to around US$2.65 billion. However, this result was tempered by the fact that the figure was 14.2% lower than in August and the second lowest this year. A typhoon that prevented some gamblers from reaching Macau impacted on gaming revenue and caused at least one gaming analyst to predict that year-on-year revenue growth would be lower than previously anticipated.
Many Hong Kong gaming stocks also fell in value in September as investors tried to second guess the Chinese government. There have been signs that government measures to slow down economic growth will have an adverse effect on the high-roller clients that make up some 70% of Macau’s gambling market. Also, credit facilities offered by junketeers have been tightened.
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Growth rates for October are expected to remain healthy for casino operators. Apart from the month having five weekends, the Chinese holiday known as the National Day Golden Week commenced 1 October and Macau hotels have reported increased visitor numbers. Over the first nine months of 2011, accumulated gross gaming revenue rose nearly 46% from the same period of 2010. (E-10.05.11)
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