Macau casinos’ gaming revenues were down for the 3rd month that is consecutive August. (Image: TripAdvisor.com)
Macau casino revenues may not be as dazzling as years ago, but the Chinese enclave is in no danger of losing its position while the world’s gambling hub that is largest. In terms of pure revenues, Las Vegas and other urban centers merely can’t compete with the tremendous quantities of money that are thrown around at Macau’s baccarat tables every day. But with regards to what seemed like the growth that is endless the area, it appears that the party could be over.
For the 3rd right month, Macau’s gaming revenues dropped on a year-over-year basis. For August, the drop ended up being 6.1 percent in comparison to 2013, a tumble blamed on a continued campaign against corruption that has hurt the movement of money from mainland China.
Raw Numbers Still Good, But Growth Has Stopped
That fall defintely won’t be making the gambling enterprises 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 one thing of a surprise at significantly more than three times that number.
The casino market in Macau has usually relied heavily on VIP gamblers whom might spend hundreds of thousands or even an incredible number of dollars in a visit that is single. That market is feel (more…)