Macau casinos’ gaming revenues were down for the third consecutive thirty days in August. (Image: TripAdvisor.com)
Macau casino revenues may well not be as dazzling as in years past, but the Chinese enclave is in no risk of losing its place as the globe’s gambling hub that is largest. In terms of pure revenues, Las Vegas as well as other metropolitan areas simply can’t compete with the tremendous amounts of money that are thrown around at Macau’s baccarat tables every day. But in terms of what seemed like the endless development for the area, it appears that the party could be over.
For the 3rd straight month, Macau’s gaming revenues dropped on a year-over-year basis. For August, the drop was 6.1 percent when put next to 2013, a tumble blamed on a continued campaign against corruption that has hurt the movement of cash from mainland China.
Raw Figures Still Good, But Growth Has Stopped
That drop will not 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 something of a surprise at a lot more than 3 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 bucks in a solitary visit. That market is feeling the strain o Continue reading