For two years starting in 2014, gross gaming revenues in Macau plunged precipitously. Pressure from the Chinese government made VIP players nervous about visiting Macau and demonstrating their desire to gamble. The mass market was still immature and wasn’t able to fill the void of the fleeing VIPs.
That ended a year ago, when revenues in August 2016 demonstrated the first year-over-year increase in more than 24 months. Now, Macau is riding an 11-month revenue rebound, with no end in sight. The rebound has been driven by the return of some VIPs but more importantly by burgeoning premium mass-market customers who are finding a warm welcome in Macau.