Macau gaming revenue beats expectations in July

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Macau gaming revenue rose at the fastest pace for the year to date in July, reflecting a sustained comeback for the territory’s casinos.

Macau casino revenue rose 29.2 per cent year on year last month, up from June’s 25.9 per cent pace and marking the highest growth rate of 2017 to date. The rise also beat a median forecast of 26 per cent growth from analysts surveyed by Bloomberg.

China’s gambling hub reported July revenue from games of fortune at 23bn patacas ($2.86bn), up 14.9 per cent from last month’s 19.99 bn patacas ($2.49bn), according to the latest figures from Macau’s Gaming Inspection and Co-ordination Bureau.

Shares in Macau casino operators were mixed after the release of the July revenue figures. Galaxy Entertainment shares were down 0.9 per cent, while Sands China shed 0.4 per cent and MGM China was up 0.9 per cent.

The benchmark Hang Seng index was up 0.7 per cent.