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CASINO LOSSES WEIGH ON MACAU ECONOMY
16th March, 2015 at 07:43:39
China's anti-corruption drive has far-reaching impact.
China's biting drive against corruption among the elite has impacted not only land casino performances in Macau, but the island's general economy, illustrating graphically the importance of diversification in place of too great a reliance on gambling businesses.
Official figures show that in Q4 last year the drop in visitor spending and gambling revenues caused the local economy to shrink 17.2 percent.
Casino GGR fell 28.9% in Q4, a steeper drop than the preceding quarter's deficit of 12.3 percent. Spending by visitors also declined, triggering a slide of 15.7% in tourism services.
Less pressure on the casinos in the first half of 2014 meant that for the full year the island's economy contracted by just 0.4 percent, with gross domestic product at patacas 443.3 billion (US$55.4 billion).
Related News Tags: China
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.
CHINA'S TIGHTER CONTROLS ON CAPITAL RESULT IN MAJOR DROP IN OUTGOING INVESTMENT
21st March, 2017 at 11:24:11
Foreign companies likely to feel the impact as Q1-2017 sees a significant 74 percent decline in outgoing investment capital.
LAND CASINO INVESTOR BUYS MOBILE APP COMPANY
20th March, 2017 at 07:18:24
Is Amax planning on expanding its land asset?