Gross gaming revenue reached 18.2 billion patacas (US$2.3bil) in December. — Bloomberg
MACAU: Macau’s gaming revenue fell 2% in December, missing analysts’ expectations as scrutiny over gambling activities tightened during Chinese President Xi Jinping’s visit to the world’s biggest casino hub.
Gross gaming revenue reached 18.2 billion patacas (US$2.3bil) for the month, according to data released by the Gaming Inspection and Coordination Bureau on Tuesday.
That compared with the median analyst estimate of a 2% year-on-year increase, and is still 20% lower than the pre-pandemic level in 2019.
The December figures bring the city’s total gaming revenue for 2024 to 226.8 billion patacas, up 24% from the year before and returning to 78% of the 2019 level.
To pivot away from gambling and establish itself as an alternative financing hub for Chinese firms, Macau hosted a record amount of bond listings last year. –– Bloomberg
