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Macau Casino Win Falls For Fourth Straight Month

Gambling Revenue Dropped More Than 11 Percent In September

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Macau’s casino industry took another hit in September as revenues continued to disappoint.

Money won off of gamblers in Macau’s 35 casinos fell to 25.6 billion patacas ($3.21 billion) in September, compared to 29 billion patacas in September 2013, according to data released by the Macau government—a special administrative region of China—on Monday.

The fall was an 11.7-percent decline year-over-year.

September marked the fourth consecutive monthly decline this year.

Analysts were expecting a decline of 13-15 percent in September, Reuters reported.

Last month, a major European bank predicted that the former Portuguese colony will see gaming revenue growth of just one percent this year. Deutsche Bank scaled down its estimate from 10 percent. In 2013, Macau casinos raked in $45.2 billion from gamblers.

According to Reuters, a stepped-up campaign against corruption and falling housing prices in China were the reasons for weaker demand from high-rolling VIP customers.

Much of Macau’s revenue is thanks to rich whales dusting off large sums.

June was the first month since 2010 that casino win declined year-over-year.

More casinos in Macau are on their way, despite the sudden drop in demand. MGM Resorts International, Wynn Resorts and Las Vegas Sands are all in the midst of new projects there. Their respective casinos could all open in 2016.

 
 
Tags: Macau