May casino revenue clocked in 25.5 billion Macau patacas (MOP; US$3.2 billion). The month’s 12% growth fell short of the consensus forecast of 17%, and it’s just the second month since January of last year that year-on-year gross gaming revenue growth has dipped below the teens. Union Gaming Group in Macau didn’t cite bad news from its junket contacts, but instead suggested the shortfall came on the mass market side. Mass market players might exchange mainland currency there for Hong Kong dollars used in casinos, though there’s no shortage of alternate methods to obtain Hong Kong dollars. JPMorgan’s Kim and Zhuang suggest the revenue mix toward high margin mass market business will continue, supporting greater profitability.

Source: Forbes June 03, 2018 15:33 UTC