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Macau’s Gaming Inspection and Coordination (DICJ) has reported an increase in casino revenue with €2.8 billion for May 2019. This is the highest revenue reported this year.
Gambling revenue in Macau hit a five-month high in May, despite a slower demand from high rollers and a slowdown in Macau’s economy. The US$3.21 million registered last month were higher than the €2.8 billion from May 2018, and also up from April’s €2.6 billion.
Recently, Fitch Ratings has revealed that it expects Macau gaming gross revenue (GGR) growth to be flat to low in 2019. The firm explained the industry will be negatively impacted by mainland China’s economic situation. As it decelerates, GGR will be impacted in the territory.
The International Monetary Fund (IMF) said that growth is projected at 4.3% in 2019 and will likely remain solid over the medium term at about 4%. The IMF said that the main driver of projected medium-term growth is tourism, with non-VIP tourism further expanding. It also said that there will be more subdued in VIP gaming growth.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Casino Revenue of Macau Increases in May
