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Macau Casino Revenues Down in August 2014
Monday September 1,2014 : MACAU REVENUES DIP FOR THIRD MONTH RUNNING
August revenues lower than anticipated as Chinese punters cut spending.
Macau’s Gaming Inspection and Coordination Bureau released its Macau gambling numbers for August Monday, reporting that casino revenue declined for the third consecutive month as mainland Chinese punters cut their spending.
The numbers are lower than analyst expectations at 28.9 billion patacas ($3.6 billion) - a 6.1 percent decline significantly greater than the 2 percent dip expected by analysts, prompting several to predict that the slump will continue in September and could persist into the fourth quarter.
Observers say that wealthy Chinese gamblers are nervous of drawing attention to themselves amidst a serious anti-corruption drive and a softer economy throughout the nation.
The three month decline commenced in June with a 3.7 percent drop - the first in five years for Macau - and continued through July and into August.
Bloomberg business news notes that China's ruling and authoritarian Communist Party announced a crackdown on corruption and lavish spending, and its most intense probe into graft in 60 years, on July 29, creating a dampening effect on high stakes spend.
The property market has also become a drag on the world’s second-biggest economy, with new-home prices falling in July in almost all cities as tight mortgage lending deterred buyers.
Share prices in land gambling companies operating on the offshore gambling enclave have taken a hit, exacerbated by a worker's strike by casino employees demanding more pay.
Oink Country Love Slot Launches -
Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.
Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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