Now that 2016 has come to a close, the last batch of gaming revenue numbers from Macau shows the industry finished the year on a high note. After 26 consecutive months of year-over-year revenue declines, Macau closed out 2016 with five straight months of gains, including an 8.0 percent bump in December.
Las Vegas won’t report December gaming revenue numbers until the end of January, but the recent November number shows steady improvement in the U.S. market as well. Las Vegas Strip revenue was up 3.4 percent in November.
2016 Provides Optimism For Gaming Investors
After a devastating 34.3 percent drop in gaming revenue in Macau in 2015, December’s number means Macau will close out 2016 with a gaming revenue decline of only 3.3 percent for the year. Gaming revenue was a key driver of the 4 percent growth in gross domestic product in Macau in Q4 after a two-year recession.
For Las Vegas casino operators, the solid November number has Las Vegas Strip revenue up 6.3 percent during the current fiscal year that began in September. In the past 12 months, Las Vegas Strip revenue is up 3.1 percent.
The turnaround in Macau and the steady growth in Las Vegas have resulted…
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