iGaming Business – Macau experienced its slowest month-on-month gaming revenue growth in 15 months during January 2014, but officials remain hopeful of a stronger performance in February.
According to the Reuters news agency, Macau posted lower-than expected gaming revenue of 28.7 billion patacas (€2.6 billion/$3.6 billion) due to tempered spending by Chinese visitors ahead of a national holiday.
Analysts had expected revenue to grow by between 11% and 15% in January, but the Chinese New Year Holiday on January 31 meant many visitors saved their visits for the holiday period instead.
Macau is expected to perform better in February with around 2.5 million people due to visit the territory during the holiday period.
“Due to the calendar date difference between this year and last year for the Chinese New Year, I think we need to look at January/February combined number to neutralise the holiday difference,” BNP Paribas analyst DS Kim said.
As reported by iGaming Business, Macau generated $45 billion in gaming revenue during 2013.
However, analysts expect 2014 to be a slower year for growth due to macro economic uncertainties in China and the potential for slower credit growth that could affect the VIP segment.
The growth of the VIP segment, which comprises mainly of high rollers from the mainland, is expected to slow by between 5% and 10% annually.
