Macau’s casino revenue was stronger than expected last month following disruptions caused by typhoons in August, providing momentum as the world’s largest gambling hub has entered the mainland’s National Day Golden Week holidays.
Gross gaming receipts rose 16 percent year on year to 21.4 billion patacas in September, according to data released by the Gaming Inspection and Coordination Bureau (DICJ) on Sunday. It was the 14th consecutive month of expansion, and compares with the median forecast for a 14 percent increase in a Bloomberg survey of nine analysts. Gaming revenue climbed 20 percent in August from a year earlier.
The Golden Week, which started Sunday, has the potential to generate more revenue than last year. Wynn Macau has said it expects a “very strong Golden Week” with its two properties, Wynn Macau and Wynn Palace, fully booked through the period. Parent company Wynn Resorts’ shares on Friday closed at the highest level in more than a year after UBS analyst Robin Farley raised her price target to US$174 from US$149, citing strength in Macau’s high-end gaming.
