Macao's gross monthly gambling revenue climbed 17.8 percent to 23 billion patacas in February, marking the seventh month of consecutive growth. Macao's gross monthly gambling revenue jumped 17.8 percent to 23 billion patacas in February, marking the seventh month of consecutive growth as the region continues to advance from its previous 26-month decline.
The February GGR represents a two-year high for Macau, which has suffered a series of declines since June 2014 in the face of Chinese President Xi Jinping's anti-corruption drive and slow economic growth.
Gross revenue accumulated for the year also increased, with revenues of 42 billion patacas, representing a 10.6% increase over the same two-month period in 2016.
Richard Huang, an analyst at Nomura in Hong Kong, noted that "while it is difficult to call last week's results a trend, the industry has shown clear signs of stabilization."
The brokerage Bernstein noted the importance of VIP performance for the latest results: "We believe that a large part of the surprise upside in February was strong VIP. VIP growth may have proven the mid-20s percent growth year-on-year.
"The last week of the month was helped by several junket marketing events, including Sun City's birthday party, which brought a significant increase in VIP players and agents.
Bernstein analyst Vitaly Umansky was quoted by Reuters as saying that this may mean that March will see "a slow VIP environment" compared to February.
South Korea gambling revenue reaches $ 18 billionIncreases in gaming and lottery sales from 7.7 percent to 2016 saw South Korea's gaming industry generate a total of KRW 20.3tn ($ 17.6 billion), according to the South Korean news agency, Korea Yonhap. The value incorporates the revenue generated by the lottery, bets and casino games (Togel Online), but excludes the income generated by the casinos of foreigners only from the jurisdiction.
Lottery ticket sales rose sharply, rising 9.3% to a 13-year KRW 3.9-ton peak, while state-owned casino Kangwon Land, the only resort that accepts South Korean citizens, posted total sales of KRW 1 , 7tn, an increase of 3.8% on its results for 2015.
The Korea Racing Authority also recorded revenue growth, generating KRW 7.7tn in 2016, a year-on-year increase of 0.2%.
The rise in gambling revenue against the backdrop of the country's current economic crisis has been attributed to a growing number of people turning to speculative bets.
Kwak Geum-joo, a professor of psychology at Seoul National University, told Yonhap: "Due to economic depression, people tend to dream of making a fortune in one fell swoop.
"It is necessary to boost social mobility to reduce these feelings."
South Korea's casino (Togel Online) sector will receive an additional boost this year with the opening of the Paradise City resort near April of 2017 near Incheon Airport.
Hey Guys, My name is Mike Johnson and I am from Los Angeles. I love writing for business blogs.