Casino revenues keep slumping, analysts remain optimistic – Macau

Casino industry in Macau has been experiencing severe revenue decline in recent years. Things were getting worse in recent months with the current anti-corruption campaign launched by President Xi Jinping. The latest gaming revenue report showed casino figures in Macau fell by 36.2% to 17.36 billion patacas (about US $ 2.17 billion) in June, yet slightly above the consensus forecast of 38.7% decline in monthly gaming revenues. This is the thirteenth consecutive year-on-year fall, and the lowest gaming turnover Macau has ever undergone since November 2010. Despite this continuous slump, Macau enjoyed a pretty good figure in June compared to the previous months. According to Union Gaming Research, the industry experienced a modest increase in revenue in June compared to the past months of the second quarter (38.8% in April, 37.1% in May and 36.2 % in June).

Other Macau-based gaming analysts have projected about 30% fall in the month of July. This improvement in the forecast could be reached thanks to the city’s initiative to revise the transit visa policy as announced on July 1. With this opportunity, visitors can stay up to seven days in Macau against five days previously. It will have a positive impact on the current casino revenue trend and players’ attendance. After all, Macau casino operators expect a noticeable increase in the number of VIP players from mainland China visiting their gaming premises.

July 17, 2015 by : posted in CASINO, NEWS No Comments

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