Macau June Revenues The Lowest Since 2010
By Casinomeister, Last updated Jul 3, 2015
Gambling island's fortunes continue to wane
The Macau Gaming Inspection and Coordination Bureau reports that casino revenues in June 2015 fell to their lowest level since November 2010, as China's slowing economy and a graft crackdown continue to impact business on the gambling island.
Gross gaming revenue in June fell 36.2 percent to 17.4 billion patacas ($2.2 billion), the 13th straight month of declines, but in percentage terms two points lower than the slide predicted by analysts.
Bloomberg business news reports that the decline is the worst since 2010, when monthly revenue averaged 15.7 billion patacas.
On the brighter side, analysts point to a loosening of Chinese travel restrictions, which should support the market.
The Macau government announced overnight a reversal of a transit visa policy that was tightened a year ago after it was used by some high rollers and junket agents to gain multiple entries.
From today (July 1), mainland China passport holders transiting through Macau are allowed to stay in the city longer and more frequently. They can stay seven days in Macau, up from five days, and gain second entry within 30 days, rather than 60 days.
Online Casino News Courtesy of Infopowa
The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophotography.
bryan@casinomeister.com
Top 5 casinos
