Macau casinos’ gaming revenues were down for the 3rd consecutive month in August. (Image: TripAdvisor.com)
Macau casino revenues may well not be as dazzling as years ago, but the Chinese enclave is in no danger of losing its place due to the fact 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 endless development for the area, it seems that the party may be over.
For the third right month, Macau’s video gaming revenues dropped for a basis that is year-over-year. For August, the drop ended up being 6.1 percent in comparison to 2013, a tumble blamed on a campaign that is continued corruption that has hurt the flow of cash from mainland China.
Natural Figures Still Good, But Growth Has Stopped
That drop defintely won’t be making the gambling enterprises in Macau cry poor anytime soon, though. They still earned 28.9 billion patacas ($3.6 billion) the thirty days. But analysts had predicted only a 2 per cent decrease in gambling revenues, making the size of the decrease something of a surprise at more than 3 x that number.
The casino market in Macau has typically relied heavily on VIP gamblers who might spend hundreds of thousands or even millions of bucks in a visit that is single. That market is feeling the strain of a anti-corrupt Read more