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Macau Casino Revenue Growth Cools In February

Casinos Win $3 Billion From Gamblers

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This year started off hot for the Macau casino industry, but growth cooled off in February.

The Macau government said that the three dozen casinos won 24.3 billion patacas ($3.02 billion) during the month, which was a 5.7 percent gain over February 2017.

The 5.7 percent uptick was the worst performance for the casinos since January 2017, according to data released Thursday by Macau’s Gaming Inspection and Coordination Bureau.

Reuters reported that analysts were expecting a year-over-year gain between 7-12 percent.

The casinos won 26.3 billion patacas ($3.3 billion) from gamblers in January. That was a 36 percent gain compared to January 2017. It was the largest year-over-year gain since early 2014.

Macau, the only place in China with legal gambling, had gaming win of $33 billion last year, nearly three times what was won in the state of Nevada.

Last month, a new $3.4 billion casino from MGM opened its door to gamblers.

Despite Macau’s recovery after a long downturn thanks to Beijing’s crackdown on junket operators, Chinese officials are considering allowing casinos on the island of Hainan. Macau is currently the only Chinese-controlled jurisdiction with legal casino gambling.