{"id":44522,"date":"2017-02-01T17:00:07","date_gmt":"2017-02-02T01:00:07","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=44522"},"modified":"2017-02-01T17:53:30","modified_gmt":"2017-02-02T01:53:30","slug":"macau-growth-slows-as-january-figures-dip-below-expectations","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/macau-growth-slows-as-january-figures-dip-below-expectations\/","title":{"rendered":"Macau\u2019s Growth Slows as January Figures Dip Below Expectations"},"content":{"rendered":"

Macau\u2019s recovery slowed in January. Figures released by the enclave\u2019s Gaming Inspection and Coordination Bureau on Wednesday reported a growth rate of just 3.1 percent for the month, way behind December\u2019s 8 percent and November\u2019s 14.4 percent.<\/p>\n

\"Macau
Early numbers indicate that Chinese New celebrations in Macau may have gotten off to a slow start, although we will need to wait for February\u2019s figures to gain a clearer picture. (Image: Panoramio)<\/figcaption><\/figure>\n

It\u2019s also significantly short of the 8.5 percent median prediction of analysts recently polled by Bloomberg. Overall gambling revenue came in at 19.3 billion patacas ($2.4 billion), the bureau said.<\/p>\n

Growth is growth, however, and, for a market that recently experienced 25 months of plunging revenues, the figures represent the sixth straight month of gains. They are also a reminder that Macau\u2019s recovery will be gradual and that consumers are still concerned about the slowdown in the Chinese economy and Beijing\u2019s anti-corruption drive which has imposed controls on the money flowing into the gambling hub.<\/p>\n

Slow Start to Spring Festival<\/b><\/h2>\n

January\u2019s numbers also indicate a slow start to the Chinese New Year holiday, which this year began on January 27th, although visitor numbers were still up over\u00a0last year\u2019s during the first five days of the festival. And since festivities continue up until the Lantern Festival on February 11th, figures released next month are likely to give a better picture of the impact on the economy.\u00a0 \u00a0 \u00a0\u00a0<\/span><\/p>\n

\n

\u201cThe recovery during Chinese New Year and February can be sharper\u2026,\u201d JPMorgan analyst DS Kim wrote in a note. \u201cWe believe the disappointing January was more a blip than a trend.\u201d<\/strong><\/p>\n<\/blockquote>\n

Macau<\/a> has diversified its economy since the crackdown by Beijing, with a wave of new resorts that have an emphasis on family-friendly attractions, as it reinvents itself as a destination for the Chinese middle-classes.<\/p>\n

Economy More Resilient <\/b><\/h2>\n

Three new casino resorts have opened in the last year alone, most recently Las Vegas Sand\u2019s opulent $2.7 billion Parisian Macao on the Cotai Strip<\/a>.<\/p>\n

Meanwhile, Lawrence Ho\u2019s Studio City, Steve Wynn\u2019s Wynn Palace, and Galaxy Entertainment\u2019s recently completed phase 2 on Galaxy Macau, have all added to the landscape.<\/p>\n

The mass market has been the main driver of Macau\u2019s bounce back, with figures showing the segment growing 7.3 percent in the final quarter of 2016. But there is also a suggestion that the VIP gamblers are slowly returning too. 2016 saw a definite improvement in the VIP segment over the previous year.<\/p>\n

Across the entire year, the segment accounted for 53 percent of Macau\u2019s overall gaming revenue, although that\u2019s still far short of the 73 percent of its 2011 peak.<\/p>\n

“The worst is over,\u201d Michael Ting, a Hong Kong-based analyst at CIMB Group, told Bloomberg, \u201cbut Macau\u2019s recovery is going to be quite volatile and choppy.”\u00a0\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Macau\u2019s recovery slowed in January. Figures released by the enclave\u2019s Gaming Inspection and Coordination Bureau on Wednesday reported a growth rate of just 3.1 percent for the month, way behind December\u2019s 8 percent and November\u2019s 14.4 percent. It\u2019s also significantly short of the 8.5 percent median prediction of analysts recently polled by Bloomberg. Overall gambling […]<\/p>\n","protected":false},"author":42,"featured_media":44524,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"\nMacau Growth Slows as January Figures Dip Below Expectations<\/title>\n<meta name=\"description\" content=\"Macau has shown growth of 3.1 percent which has disappointed analysts, as the Chinese New Year gets off to a slow start in the gambling mecca.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macau Growth Slows as January Figures Dip Below Expectations\" \/>\n<meta property=\"og:description\" content=\"Macau has shown growth of 3.1 percent which has disappointed analysts, as the Chinese New Year gets off to a slow start in the gambling mecca.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/macau-growth-slows-as-january-figures-dip-below-expectations\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-02-02T01:00:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-02-02T01:53:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/20686891.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"616\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-growth-slows-as-january-figures-dip-below-expectations\/\",\"url\":\"https:\/\/www.casino.org\/news\/macau-growth-slows-as-january-figures-dip-below-expectations\/\",\"name\":\"Macau Growth Slows as January Figures Dip Below Expectations\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-growth-slows-as-january-figures-dip-below-expectations\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-growth-slows-as-january-figures-dip-below-expectations\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/20686891.jpg\",\"datePublished\":\"2017-02-02T01:00:07+00:00\",\"dateModified\":\"2017-02-02T01:53:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Macau has shown growth of 3.1 percent which has disappointed analysts, as the Chinese New Year gets off to a slow start in the gambling mecca.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-growth-slows-as-january-figures-dip-below-expectations\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/macau-growth-slows-as-january-figures-dip-below-expectations\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-growth-slows-as-january-figures-dip-below-expectations\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/20686891.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/20686891.jpg\",\"width\":1024,\"height\":616,\"caption\":\"Early numbers indicate that Chinese New celebrations in Macau may have gotten off to a slow start, although we will need to wait for February\u2019s figures to gain a clearer picture. 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