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37.1% decrease of casino revenues in May - Macau
Since the last five years, Macao has become the Eldorado of casino game. But the sector is not what it was before if we take a look of its turnover during the last 12 months. Revenues from Macau casino industry fell for the 12th straight month because of the fight of the central government against corruption and economic slowdown because of High Roller players and foreign VIP players who come to play in gaming establishments of this special administrative region of China. The Gaming Inspection and Coordination Bureau of Macau announced recently that the gross gaming revenue in May saw an annual decline of 37.1% to 20.35 billion patacas (about $ 2.55 billion). The slowdown of the game industry had a great impact on the region's economy. Analysts believe that the economy of Macao fell by 38.5% in the first quarter. Casino operators believe that the opening of two new casino resorts, including that of Galaxy Entertainment Group will reduce the influx in current casinos.
In addition to the State policy, smoking banning in public places could also have a significant impact on casino market in Macau. For now, the ban on smoking in all public spaces such as restaurants, offices and public transport is still limited to Beijing, but it could quickly spread to other provinces according to two analysts at Union Gaming, Grant Govertsen and Felicity Chiang. The reason is that Macau is a destination for players around the world, most of which have a strong addiction to smoking.
Source: James WILLIAMS
Monday, 01 June 2015
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