Bad results for Macau casinos

Land casino revenues on the offshore gambling centre of Macau fell 12.2 percent in the second quarter 2009 to MOP$25.62 billion, compared with Q2 2008, and were down 2.4 percent on Q1 of 2009, the island's Gaming Inspection and Coordination Bureau reported.

Analysts attributed the continued decline to visa restrictions introduced by the Chinese government and the global financial crisis.

Since the middle of 2008, Beijing has tightened restrictions on visits to Macau in an apparent attempt to stop civil servants from gambling and curb money laundering (see previous InfoPowa reports).

In the first half 2009 ended June 30, Macau's casino gambling revenue fell 12.5 percent to MOP$51.87 billion, from MOP$59.26 billion a year earlier.

The number of casino gambling tables rose to 4 390 at the end of June, from 3 998 at the end of March, the regulator said.

Since 2002 the regulator has issued six major casino licenses to operators that include former monopoly holder SJM Holdings owned by Dr. Stanley Ho, Las Vegas Sands Corp., Wynn Resorts Ltd., Melco Crown Entertainment Ltd., MGM Grand Paradise SA and Galaxy Entertainment Group Ltd.

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