The world’s largest gambling hub has been marking a steady growth of gaming revenue for the past several months and this could be easily seen with the help of the finance reports which are issued on a regular basis. The month of March witnessed a 22-percent jump in the gambling revenue which makes the time period the next one in a long thread of positive development.
It is not a secret to anyone that Macau Special Administrative Region of the People’s Republic of China is one of the gambling hubs with roaring success on an international scale. This is an autonomous region on the south coast of China which is known as the only location in China where gambling is legal for Chinese nationals. Ever since its official legalization by the Portuguese government back in 1850 gambling has been in great demand and as of this moment, it makes up about 50 percent of the economy, which is a significant chunk.
Gross gaming revenue has been a topic of discussion for many years now since it is considered a reliable litmus for the current state of the industry at a given location. Such is the case with the world’s gambling capital which is riding the wave of gambling operation and marking a 20th consecutive month of gambling gains. According to the information issued by Macau’s Gaming Inspection and Coordination Bureau, the month of March saw 22.2-percent jump when compared to the performance in March 2016, which could be qualified as a considerable surge of revenue.
Positive Development for the Gambling Hub
The exact amount of revenue generated over the span of March reached MOP26 billion which is an improvement when compared to the performance back in March 2017. It could be recalled that back then the gambling revenue of Macau reached MOP21.2 billion, also marking a revenue surge by almost 20 percent.
Mid-March specialists in the field made their official forecasts for the performance of Macau over the span of March and according to the information which was issued, they expected a 13 to 18-percent jump. The actual revenue surge which was witnessed in fact proved them wrong and continued the positive development of the gambling hub.
What should be taken into account is that even though the current performance of Macau is excellent, it is still far from the figures generated back in 2014 before the slowing economic growth and a widespread crackdown on corruption. Experts state that this level of advancement and improvement of gambling offerings is part of the recovery process for Macau which started then.
This is visible by the increase in Chinese visitor arrivals amounting to some 23.1 percent compared to February last year. This year-on-year comparison means that this year there were a total of 3.07 million tourists making their way for the Lunar New Year celebrations.