Wednesday July 2,2014 : SHOCK DECLINE IN MACAU GAMBLING REVENUES
3.7 percent decline in June is the first drop in revenues in four years.
Has the seemingly endless Macau run of outstanding gambling revenues finally peaked after an unbroken four years? The latest figures from Macau’s Gaming Inspection and Coordination Bureau might suggest that a slowdown is taking shape.
Gambling revenue in Macau fell 3.7 percent in June on an annual basis, the first decline in more than four years, but analysts have opined that the causes may be temporary attractions elsewhere such as the World Cup football in Brazil, which is siphoning off huge amounts in Asian gambling bets.
However, other observers pointed out that high-rollers or VIPs, bettors who usually wager at least HK$5 million ($645,000) per trip, and contribute as much as sixty percent to the market, have been shying away from gambling in Macau amid a cooling economy and a nationwide crackdown on corruption in China.
The Reuters news agency reports that gambling revenue from Macau's 35 terrestrial casinos fell to 27.2 billion patacas in June ($3.4 billion) from 28.3 billion patacas a year earlier, meeting analyst predictions that a drop of 4 to 6 percent was imminent.
The shift downwards is the first decline since June 2009 when Macau revenues fell 17 percent, according to the Gaming Inspection and Coordination Bureau.