Macau July Gaming Beats Estimates as Resorts Draw Tourists
- July gross gaming revenue falls 4.5%, less than 5.5% estimated
- Casino industry’s slump in city extends to 26th-straight month
Pedestrians walk along a street with illuminated signs in this photograph taken with a tilt-shift lens at night in Macau, China, on Tuesday, Dec. 01, 2015. Macau's casino revenue fell for the 18th straight month in November, as China's moves to curb illicit money flows from the mainland deterred the high-stakes players who rely on junket promoters for betting loans.
Photographer: David Paul Morris/BloombergMacau’s gaming revenue in July fell less than analysts estimated as the holiday season brought tourists and leisure gamblers to the local units of Las Vegas Sands Corp., Wynn Resorts Ltd. and other casinos.
Gross gaming revenue fell 4.5 percent to 17.8 billion patacas ($2.2 billion), marking 26 consecutive months of declines, according to data from Macau’s Gaming Inspection and Coordination Bureau. That followed a 8.5 percent decrease in June and compares with the median estimate of a 5.5 percent drop by nine analysts surveyed by Bloomberg.