Macau casinos’ gaming revenues were down for the 3rd 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 because the 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 when it comes to what seemed like the endless development 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 had been 6.1 percent when put next 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 fall will not be making the gambling enterprises in Macau cry poor anytime quickly, though. They still introduced 28.9 billion patacas ($3.6 billion) the thirty days. But analysts had predicted only a 2 % decrease in gambling profits, making the size of the decrease something of a surprise at a lot more than three times that number.
The casino market in Macau has typically relied heavily on VIP gamblers who might spend hundreds of thousands or even millions of dollars in a single check out. That market is feeling the strain of a anti-corruption campaign from Ch Continue reading Macau Casino Revenues Down for Third Straight Month