Macau’s gaming revenue could improve going forward after falling for the 12th straight month in May, according to some industry observers and analysts.
While the industry’s overall gross revenue fell 37 percent from a year earlier last month, there were signs that things could be on the mend, the Hong Kong Economic Journal cited analysts as saying.
Citigroup analysts pointed out that chip rolling turnover and income from the mass gaming tables both climbed 7 percent from a month ago.
Meanwhile, income generated by slot machines topped 1 billion patacas, the first time since 2014.
Citigroup expects industry revenues to stabilize following the opening of new resorts, Galaxy Resort Phase II and Galaxy Broadway, by Galaxy Entertainment Group Ltd. (00027.HK) late last month.
Union Gaming Research also released a report which said that Macau’s gaming revenue could stabilize in June.
But a strong boost will come only when Melco PBL Entertainment’s Studio City opens, it said.
Official data released earlier this week showed Macau’s gambling revenue for May at 20.35 billion patacas (US$2.55 billion), marking the 12th straight month of contraction.
Translation by Vey Wong
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