Macau Gaming Revenue on the Rise, Despite Typhoon Devastation
Reporting revenue of $22.7 billion, Macau has seen its thirteenth consecutive month of year-on-year increases despite tropical storms causing significant damage to the area.
Casino revenue is up to 19.1% over the course of the past year. The strong financial results could help to offset losses caused by the storm.
Typhoon Hato struck Macau on August 23.
Reaching wind speeds of over 200 kilometres per hour, it was the strongest storm to hit Macau in over 50 years. 240 people were injured and there were 10 fatalities.
Tourists are now returning to Macau this month, with over 410 tour groups visiting the area this weekend. Just two weeks after the typhoon hit, tourism is back on the rise. So, casino operators in the area are likely to continue to see growth through to the end of the year.
Casino operators in the area have pledged their support to the community during its time of need. Both Melco Resorts and Wynn Resorts have donated $3.75 million to relief effort.
Two thirds of the funding will be used to support their staff and families, and the rest will be used to help rebuild the community overall.
“Right now, our top priority is to get all of Macau to stand tall again so that all of us are better prepared and more resilient for the future,” says Lawrence Ho, Chairman and CEO of Melco Resorts and Entertainment.
The money from the relief fund will be distributed over the course of the next six weeks.Sands China, MGM and Galaxy have also provided support to the local community, in an effort to help individuals and businesses get back on their feet after Typhoon Hato.