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 in years past, 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, nevada and other urban centers simply can not compete with the tremendous amounts of money that are thrown around at Macau’s baccarat tables each day. But when it comes to what seemed like the growth that is endless the area, it appears that the party might be over.
For the 3rd right month, Macau’s gaming revenues dropped for a year-over-year basis. For August, the drop had been 6.1 percent in comparison to 2013, a tumble blamed on a continued campaign against corruption that has hurt the flow of cash from mainland China.
Raw Numbers Still Good, But Growth Has Stopped
That drop won’t be making the gambling enterprises in Macau cry poor anytime soon, however. They still introduced 28.9 billion patacas ($3.6 billion) the thirty days. But analysts had predicted only a 2 percent decrease in gambling revenues, making the size of the decrease one thing of a surprise at significantly more than 3 x that number.
The casino market in Macau has usually relied heavily on VIP gamblers who might spend hundreds of thousands or even an incredible number of dollars in a visit that is single. That market is feeling the strain of an a Read more