Macau’s gaming sector did not have a great start to the year, with January’s revenue growth having fallen below the estimates of economic analysts.
That led to a fear of a potential slowdown in the growth of the world’s largest gaming area after a record-breaking year of revenue in 2013. Those fears will likely be gone after February’s revenue figures were released this week.
The figures show that Macau’s gaming revenue for the month of February totalled US$4.8 million, a 40% increase from the month before. That was an amount that actually exceeded analysts’ expectations, which were between 29 and 35 percent.
February’s gaming revenue was also the highest ever monthly revenue recorded in Macau, which was previously US$4.57 million in October last year. Macau saw a major spike in the number of tourists from the Chinese mainland throughout February, in particular during Chinese New Year celebrations in the first week of the month.
That week saw over 770,000 tourists from mainland China travel to Macau, the majority of whom partook in gaming throughout their time in the Special Administrative Region.
The ever-strengthening state of the Macau gaming sector is likely to be good news for the organisers of the Macau Millions poker event. The ten-day festival, which takes place between March 7-16, will feature at least six different poker tournaments and is expected to have over 1,000 participants in its main event.
The Macau Millions previously had what its promoter PokerStars referred to as a “two-year hiatus.” Its return in 2014 puts it alongside other major Macau poker events such as the Macau Poker Cup and helps to show that Macau is fast becoming a regional and global hub for high level professional poker.