Offline Casinos Continue to Thrive

ian bruce
Written by Ian Bruce
Published on Wednesday 3rd May 2017, 2:13 pm
Posted in: Casino Business

Casino Business

The year-on-year rise in the popularity of online casino gaming may not have made life particularly easy for traditional casino operators, but many of them are still thriving. Three big operators in Macau, which is often referred to as ‘the Vegas of China’ have all reported positive figures for the first quarter of this year, and Las Vegas Sands made almost half a billion dollars in profit for the three months to 31 March.

Figures released by the Gaming Inspection and Coordination Bureau in Macau show that monthly gross revenue for April 2017 was MOP 20.16 billion, which is up 16.3% on last year’s figure of MOP 17.34 billion. This is the ninth month in a row that revenues have grown, and shows that the industry in the region is recovering nicely from a slump that lasted for more than two years between June 2014 and July 2016. 

As far as Las Vegas Sands is concerned, Consolidated Net Revenue for the three months to 31 March, 2017, was $3.11 billion, which represented an increase of 14.3% on the same figure for the first quarter of 2016. Net Income for the period was $578 million, which was 41.3% up on the $409 million figure for the same period last year.

The company also reported that, in Macau, adjusted property EBITDA (earnings before interest, tax, depreciation and amortization) was $624 million, which was up 20.5%, whilst in Las Vegas, adjusted property EBITDA rose 40.2% to $122 million. The company pointed out that the latter figure represents its strongest quarterly result since 2008.

At the same time, MGM Resorts International in Macau reported a net income of $207 million for the first quarter of 2017, and that figure dwarfs the $67 million for the same period in 2016. Wynn Resorts reported net income of $100.8 million for the first quarter of 2017, which was up 34% on the $75.2 million for the three months to 31 March, 2016.

Whilst all of this is very good news for investors, it is also very good for players, because casino operators with more money translates to a variety of refurbishments, expansions, innovations and new venue launches. This gives players a better experience at existing locations, and even more traditional casinos to choose from.

Of course, traditional casino players don’t need to visit Macau or Las Vegas to scratch their gaming itch. The offline casino industry is also thriving right here in the UK, and many of the big chains are just as busy refurbishing existing venues and introducing new ones. Visit our Local Casino Reviews section to check out the details of the best casinos in the UK (we have just published updated reviews of Genting Stoke and Genting Riverlights Derby, if you happen to be in those areas) and consider enjoying some offline gaming action the next time you fancy a good night out.

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