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Macau Gambling revenues drop 39 percent in March
Wednesday April 1,2015 : ANOTHER AWFUL MONTH FOR MACAU
Gambling revenues drop 39 percent in March.
Gambling revenue in Macau plunged another 39 percent in March, the tenth consecutive monthly fall, as Chinese mainland high rollers remained cautious due to the crackdown on extravagance and corruption by the Chinese central government.
The March revenue decline is the second worst on record for Macau, the Reuters news agency reported, noting that revenue fell to 21.5 billion patacas (GBP 2 billion or US$2.7 billion) from 35.5 billion patacas a year earlier. The decline was slightly below the predictions of analysts who expected the worst.
Those analysts are taking a gloomy view on the short term prospects, predicting a continued slump in demand at the top end of the market, with high rollers keeping a low profile amid a spate of investigations of officials and executives for graft.
Long term views are more optimistic due to travel infrastructure improvements in the region and the possibility of more visitors....as few as 2 percent of China's 1.4 billion citizens have visited the gambling island just offshore from Hong Kong.
Gambling taxes and levies brings in 80 percent of the island government's revenue, but officials have called for more diversification of the economy to make it less reliant on the casinos .
Land casino company shares have fallen in value by as much as 22 percent since the start of 2015.
PartyPoker Rakebak -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
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4 New Microgaming Releases in May 2017 -
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PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
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NHL Predators First Ever Conference Finals Appearance -
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NBA Odds: Wizards-Celtics at the Garden -
The Washington Wizards are making this a series. They’ve won back-to-back games against the Boston Celtics to knot this second-round matchup at 2-2 with Game 5 at the Garden on Wednesday. TNT has the coverage starting at 8 PM ET.
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