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Macau October gambling revenue falls 23.2 percent

Tuesday November 4,2014 :  MACAU SUSTAINS BIGGEST DROP IN REVENUES IN ITS HISTORY
 
October gambling revenue falls 23.2 percent.
 
The offshore Chinese gambling island of Macau confirmed analyst fears Tuesday, reporting revenues down 23.2 percent in the worst month yet since records were initiated in 2005.
 
The previous record drop was in January 2009, when revenue fell 17.1 percent in the aftermath of a global credit crisis.
 
The serious decline has now lasted for five months and has been attributed to China's crackdown on corruption and its slowing economy.
 
Official statistics released Tuesday showed that revenue fell to 28 billion patacas (US$3.51 billion) from 36.5 billion patacas a year earlier The fall is greater than the 20 percent expected by most analysts.
 
Macau made US$45 billion in gambling revenue last year, a figure that is unlinely to be maintained for 2014.
 
“The revenue will remain very weak for the next few months, we expect November and December to also be down quite a bit,” said Aaron Fischer, a Hong Kong-based analyst at CLSA Ltd.
 
In a JPMorgan report late last month, analysts commented:
 
“As the scope, magnitude and length of [the Chinese anti-corruption] campaign turns out to be wider, deeper and longer than anticipated, the scrutiny and social pressure from the austerity drive could make it increasingly difficult for one to visit Macau.”



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MPN Poker Tour Bratislava Day 1B - Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today

MPN Poker Tour Bratislava Day 1A - The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.

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