Casino Revenue In Macau Set To Rise
Casinos in Macau will be breathing a sigh of relief. 2019 was a more than disappointing year, with revenue for the region plummeting as much as 13%. This weak number marked the second lowest in Macau history, resulting in many fearing the worst for the coming 2020.
But it turns out that these worries were ill founded. A research report released suggests that 2020 will be a year of recovery for the area, with it being suggested that revenue for casino games and resorts in area should see a climb of around 8%.
Though, at this point the 8% climb is nothing more than a suggestion based on statistical information.
The Research Team
The predictions are coming from a research firm called Sanford C. Bernstein. 3 of the researchers there, including Senior Research Analyst of Global Gaming, Vitaly Umansky, released a report regarding the Macau casino industry.
Their report suggests that Macau will recover gradually over the year, hitting a peak around October or December. The released data specifically mentions as much as a 15% increase by end 2020, although that number has been rounded off as 8%, just to be safe.
Certainly great news for casino owners in the area, but is this all just random speculation?
Umansky explained that Sanford C. Bernstein prides itself on delivering accurate, unbiased research reports. So in this regard, it can be sure that the report is accurate, at least according to available information.
Umansky went into further detail, pointing to a number of key factors in the region that would boost revenue. This includes a massive increase in hotel rooms, a result of massive expansions and renovations, as well as an expected recovery of the Chinese economy. If it all goes according to predictions, the ultimate result will be the climb in overall casino income.
Although, Umansky elaborated, there is one company in particular that will be seeing a massive boost in earnings; the Wynn Macau. The establishment is well known to enjoy an enormous portion of its income from casino games favoured by VIP guests, and that stream of revenue is suggested to climb by as much as 6% for the establishment.
If this all comes to pass remains to be seen, but based on the Sanford C. Bernstein report 2020 might just be a big year for casino games, and casino owners, in Macau.