Macau Gaming Win Falls 21.4 Percent In January
Market Continues To Stabilize In 2016
Macau casinos won $2.33 billion from gamblers during the first month of 2016, according to Macau’s Gaming Inspection and Coordination Bureau. That was a drop of 21.4 percent compared to the same month a year ago.
It marked the 20th straight month that gaming win has fallen in the former Portuguese colony. The city’s gaming revenue fell 34 percent year-over-year to $29 billion in 2015. It was the second straight year of less gaming revenue than the year before. Macau had a record $45.2 billion in gaming revenue in 2013.
Macau gaming revenue is predicted to fall by another eight percent in 2016, according to a report from Bloomberg. Though, the market appears to be stabilizing.
October gaming win fell 28.4 percent year-over-year, but it was was the first month since January 2015 when gaming revenue fell less than 30 percent.
The sharp and sudden contraction of Macau’s casino gambling market is largely to due to Beijing cracking down on what it saw as corruption within the city’s junket industry, which has been key to high rollers getting access to the funds they want to gamble with. The Chinese government wants Macau to rely less on VIP customers for its economic health.
|1||Jon Turner Wins CPPT Venetian Main Event|
|2||Damon Says 'Rounders 2' Would Be About I-Poker|
|3||Poker Strategy: Beware Of Unforced Bets|
|4||Jon Little: Top Poker Pro Becomes Top Instructor|
|5||POY: WSOP Main Event Champ To Earn 3,300 Points|
|6||Trump Running Mate Has Anti-Online Poker History|
|7||Poker Strategy: Maximizing River Value in Position|
|8||Maryland Live! Sues MGM Over High Roller List|
|9||Michigan Men Get Prison For Poker Home Game Robbery|
|10||Wynn Boston Harbor Finally Gets Green Light|
|1||Poker Pro Folds Quads To All-In Bet In Main Event|
|2||Final Nine Set For 2016 WSOP Main Event|
|3||Fedor Holz Wins 2016 WSOP $111,111 High Roller|
|4||Man Runs Up $10K Into One Drop Buy-In Playing BJ|
|5||Phil Ivey Enters First And Only WSOP Event In 2016|
|6||Raymer Not Impressed By Being Last Former Champ Left|
|7||Mercier Proposes To Girlfriend At Final Table|
|8||Man Pays $10K To Enter Ladies Event At 2016 WSOP|
|9||2016 WSOP Main Event: 80 Players Remain After Day 5|
|10||Money Bubble Bursts In 2016 WSOP Main Event|