Analysts differ on Macau’s Chinese New Year performance


Despite Macau posting a strong year on year increase during the first few days of the Chinese New Year period, a 3.9 percent drop in gross gaming revenue is being reported for the full first week of the Lunar New Year of the Snake compared with the first seven days of the previous Year of the Dragon.  Gross gaming revenue for the first 17 days of February reached around $1.8 billion. The results come despite record visitor arrivals, with a rise of more than 25 per cent in mainland tourists. The higher margin mass market showed more strength than the VIP market, as high rollers dodged the Lunar New Year crowds. Analysts are predicting between zero and 2 percent year on year growth for February as a whole.