Macau's gambling revenue hit with first annual fall - BBC News

Gambling revenue in Macau, the world's biggest gaming hub, has fallen for the first time on an annual basis since its casinos were liberalised in 2001. Revenue fell 2.6% in 2014 to $44.1bn (£28bn However, things were not that bright for Macau and its casino industry in the period between mid-2014 and mid-2016. The city’s gambling market experienced its worst downturn ever, posting sometimes double-digit declines in monthly gross gaming revenue. Being highly dependent on its gambling industry, Macau’s overall economy suffered terribly from the continued downward trend. Macau, the world's largest casino gambling hub, reported 29.2 percent gross gaming revenue growth in July, easily topping consensus analyst estimates of 26 percent growth. Monthly Gross Revenue from Games of Fortune Back: Av. Praia Grande Ed. China Plaza 762-804, 21fl. Tel: (853) 2856 9262 Fax: (853) 2837 0296 Email: [email protected] Macao's casino revenue plunged by the most since the city started monthly records in 2005, as the Chinese mainland's crusade against corruption prompted gamblers to cut back on spending. Macau recorded its fifth highest monthly gaming revenue ever in May, 32.35 billion patacas ($4.05 billion), up 9.3% from a year earlier. But that wasn’t good enough for nervous investors, who Macau casino operator SJM Holdings Ltd. said its 2014 net profit fell 12.7% from a year earlier, as high-spending gamblers shy away from the semiautonomous Chinese territory’s tables. Macao casinos' revenue surges most since 2014. By Bloomberg. Thursday, February 01, 2018, 16:50 By Bloomberg. The Wynn Macau resort (left) and the Grand Lisboa hotel are seen in Macao on Aug 24, 2017. (ANTHONY WALLACE / AFP) Macao’s casino revenue growth surged the most in four years as high rollers and leisure gamblers headed to the world’s biggest gambling hub before the Chinese New Year The Chinese territory of Macau posted its highest monthly revenue since 2014 in October, bolstered by solid demand from Chinese punters keen to play in the country's only legal casino hub. Casino revenue in the world’s biggest gaming hub posted its largest gain last month since February 2014 as high rollers beat a path back to the territory’s tables.

[index] [5384] [12081] [19414] [19074] [1607] [33995] [16909] [16081] [33400] [33917]