December 2014 Gambling Revenues Sink Further In Macau

DECEMBER 2014 GAMBLING REVENUES SINK FURTHER IN MACAU

01st January, 2015 at 23:52:45
Source: http://www.azonlinecasinos.com

2.6% year-on-year decline in revenues to 351.5 billion patacas.

The expected continued decline in Macau gambling revenues has been confirmed by figures for December released by Macau's Gaming Inspection and Coordination Bureau, which show that revenue fell a record 30.4% in December to 23.3 billion patacas to complete a miserable second half of the year.

It was the seventh consecutive monthly decline.

The Bureau reports that annual revenue sank 2.6% year-on-year to 351.5 billion patacas ($44.1 billion) representing the first annual decline in business since land casino gambling was liberalised back in 2001.

The persistent decline has seen casino share prices plummet 32% to 51% towards the end of the 2014 year. Macau's casinos have consequently lost a combined $58 billion in market value over the past six months.

The Reuters news agency attributes the decline in revenues to a tough Chinese government campaign against conspicuous spending and corruption at official levels.

Viewed in perspective, even in decline the Macau market annual revenues outperformed Las Vegas by almost seven times.

Related News Tags: ,



« News index »



BLITZ ON THE WAY FOR CHINESE ONLINE GAMBLING

29th March, 2017 at 08:27:22
Government plans to crack down hard on online casinos and foreign land operators targeting Chinese high rollers.

NEVADA GAMBLING REVENUES FOR FEBRUARY RELEASED

28th March, 2017 at 19:47:54
Not the best February - 4.5 percent down year-on-year.

OURGAME LOOKS TO GLOBAL EXPANSION

27th March, 2017 at 13:46:09
Particularly within social casino and eSports sectors.

JAPANESE GOVERNMENT GEARING UP FOR GAMBLING

22nd March, 2017 at 07:30:45
Cabinet office branch opens.

ADELSON AMONG THE WORLD'S WEALTHIEST

22nd March, 2017 at 07:30:45
Anti-online gambling owner of Las Vegas Sands is #20 on world list, but top of the gambling industry moguls.