Macau’s aggregated gross Gambling revenues Recuperate for June

The over 30 casinos at Macau have reportedly recovered somewhat from a disappointing May to post a 12.5% increase in aggregated gross gaming revenues for June to about $2.78 billion.

GGRAsia reported that the June figure was much better than the 12.1% year-on-year advancement for May, which saw the town ’s casinos record a 31-day tally of $3.15 billion, though it was still much below the 20% drop that had been predicted by some brokerage companies . This all came after April saw the neighborhood sector see a 27.6% boost in takings to $3.18 billion March’s total of 3.21 billion had represented that a 22.2% escalation.

JP Morgan Securities (Asia Pacific) Limited reportedly detailed via a formal memorandum last week which Macau’s aggregated gross gaming revenues for June were set to become ‘quite decent and resilient in our view, particularly considering that the slow seasonality post the holiday and negative effect from the [2018 FIFA] World Cup. ’ It had been highlighting its view that takings were sure to be negatively impacted by China’s conventional Golden Week holiday in addition to the reduced betting volumes which are oftentimes seen around major sporting championships like the festival of football that is currently taking place in Russia.