A banner December helped boost Macau gross gaming revenue to MOP360.8 billion in 2013 (US.1 billion), an 18.6 percent increase over 2012.
The total surpasses the consensus forecasts of analysts, which tended to range between 14 percent and 15 percent, and is likely to equate to more than seven times the GGR generated on the Las Vegas Strip once that is calculated. Strip revenues stood at $5.8 billion through November.
The results are a new record for the Chinese casino enclave, beating the US$38 billion record set in 2012 with the help of a December that was the second-best month in the industry’s history, up 18.5 percent year-on-year to MOP33.5 billion ($4.2 billion).
Union Gaming Research Macau is forecasting 14 percent revenue growth across the board for 2014, based on a projected 10 percent increase in VIP revenue and 22 percent in mass market and slots.
Wells Fargo analyst Cameron McKnight is projecting a more conservative 10 percent on the view that a slowdown in growth in credit on the mainland could begin to make itself felt on returns in Macau by the middle of the year. Similarly, he expects a relatively modest 5 percent growth in visitation, but says this will have less of an impact as the city focuses more on attracting higher-spending, longer-staying tourists.