Macau Revenues Plunge By Almost A Third In November

MACAU REVENUES PLUNGE BY ALMOST A THIRD IN NOVEMBER

01st December, 2015 at 08:15:00
Source: http://www.azonlinecasinos.com

November gambling revenue down 32.3% year-on-year as casinos ponder a shift in emphasis.

Macau's Gaming Inspection and Coordination Bureau has reported monthly gross revenue for November 2015 at MOP$16.43 billion (US$2.06 billion) which is down 32.3 percent, compared to the same month in 2014, and represents 18 months of consecutive decline in casino revenue for the region.

The statistics show that the high roller VIP sector remains very weak and is shrinking, triggering speculation that casino strategists will refocus on more mass market action rather than VIP wagering.

The regulator noted that revenues continue to hover near five-year lows as the world's biggest gambling hub struggles to attract wealthy Chinese punters spooked by the Chinese government's slowing economy and anti-corruption drive.

November revenues were the lowest this year and down from 20.06 billion patacas in October, the regulator noted.

The steep decline was not unexpected - analysts had already predicted the November negative could be as high as 34 percent.

The accumulated gross revenue for the first 11 months of the year is down 35.3% at MOP$212.5 billion compared to the same period in 2014. Gaming revenue in the world's largest center of gambling has fallen 35.3% so far this year.

Analysts identified another hurdle to recovery, pointing to delays in completing a bridge from the Chinese mainland to the gambling island.

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.

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?