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MACAU REVENUES PLUNGE BY ALMOST A THIRD IN NOVEMBER
01st December, 2015 at 08:15:00
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.
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