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Macau gaming revenue pops 23.7% YOY in May

Gaming revenue in Macau jumped 23.7% year over year in May to hit 22.74 billion Macanese patacas.

This result topped Deutsche Bank analyst Carlo Santarelli's 18.2% estimate and the consensus estimate of 17.6%, the analyst said in a note. However, he added, recent market checks indicating strong win per day during the month might take some of the surprise out of the outperformance.

Looking ahead, Santarelli expects month-over-month sequential acceleration for the company between April and May and double-digit growth in the VIP market through the first half of the year to lead to "continued, though decelerating" double-digit growth in the second half of 2017.

Year-to-date, Macau's casinos have raked in 106.38 billion patacas in gaming win, a 15.8% increase from the same period in 2016, Macau's Gaming Inspection and Coordination Bureau reported.

As of June 1, 2017, US$1 was equivalent to 8.03 Macanese patacas.