Macau gambling revenue hits three-year high

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Casinos in MacauImage copyright
Reuters

Gambling revenues in Macau hit a three-year high in October as a national holiday week led to more visitors.

Revenues rose by a higher than expected 22% from a year earlier to $3.3bn (£2.5bn), marking the 15th consecutive month of increases in the special administrative region of China.

Macau is the only place in the country where casino gambling is legal.

An 11% rise in visitors from the mainland and several big bets from VIPs helped to boost revenue.

The VIP sector consists of gamblers who typically make bets of about $150,000.

However, the market is volatile and casino operators Sands China and Wynn Macau are keen to develop the mass market area, in which growth was slower.

The holiday week, which took place from 1 to 8 October, lasted one day longer than in 2016.

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