Macau casinos’ gaming revenues were down for the next month that is consecutive 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 place once the globe’s gambling hub that is largest. 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 when it comes to what seemed like the endless growth for the area, it appears that the party may be over.
For the 3rd straight month, Macau’s gaming revenues fell on a year-over-year basis. For August, the drop was 6.1 percent when compared to 2013, a tumble blamed on a campaign that is continued corruption that has hurt the movement of cash from mainland Asia.
Natural Numbers Still Good, But Growth Has Stopped
That drop defintely won’t be making the gambling enterprises in Macau cry poor anytime quickly, though. They still earned 28.9 billion patacas ($3.6 billion) the month. But analysts had predicted just a 2 % decrease in gambling revenues, making the size of the decrease something of a surprise at more than three times that number.
The casino market in Macau has typically relied heavily on VIP gamblers whom might spend hundreds of thousands or even millions of bucks in a solitary check out. That market is feeling the strain of an anti-corruption campaign from Chine Continue reading “Macau Casino Revenues Down for Third Straight Month”