Macau casinos’ gaming revenues were down for the 3rd consecutive month in August. (Image: TripAdvisor.com)
Macau casino revenues might not be as dazzling as years back, but the Chinese enclave is in no danger of losing its position because the world’s largest gambling hub. Every day in terms of pure revenues, Las Vegas and other cities simply can’t compete with the tremendous amounts of money that are thrown around at Macau’s baccarat tables. But with regards to what seemed like the growth that is endless the area, it seems that the party could be over.
For the third right month, Macau’s gaming revenues fell for a basis that is year-over-year. For August, the drop was 6.1 percent when compared to 2013, a tumble blamed on a continued campaign against corruption that has hurt the flow of money from mainland Asia.
Natural Numbers Still Good, But Growth Has Stopped
That drop won’t be making the casinos in Macau cry poor anytime soon, however. They still earned 28.9 billion patacas ($3.6 billion) the thirty days. But analysts had predicted just a 2 % decrease in gambling revenues, making the size of the decrease something of a surprise at significantly more than 3 x that number.
The casino market in Macau has typically relied heavily on VIP gamblers whom might spend hundreds of thousands or even millions of dollars in a single visit. That market is feeling the strain of an anti-corruption campaign from Chinese President Xi J Continue reading Month Macau Casino Revenues Down for Third Straight