Macau Revenue's Worst Plunge in History

Macau gambling revenue hits a new low in February, with a shocking 48.6 percent decline. Analysts were predicting weak numbers but not as bad as those released on Monday by the Gaming Inspection and Coordination Bureau, which are the worst on record.

The revenue fall of 18.5 billion patacas has been attributed to a slowdown in Chinese economy as well as to Chinese government’s fierce war on corruption. Reuters news agency reports that February’s results are a continuation of a nine-month consecutive fall in Macau gambling revenue. In related news, police in the Hunan province has detained 19 people after busting a cross-border gang running an Internet gambling operation, Chinese news agency Xinhua reports. A police spokesman reveals that the gang operated the "Shenbo Sun City" website using overseas servers, making a profit of 1.4 billion yuan in the process.



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    iDark

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    Well, nothing special here, While Chinese government not decided, what to do next with Macau casino's which is hiding taxes..Another reason of down is that chinese Economy was grown and people making more money, but they decided to spend it on new vehicles, houses or boutique..I mean, they do know, that gamble cost more than a new car :D I am happy about it and want to see this place managed well, so government could get more income from gamble industry sharks..
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    jade

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    I know in my case, if there were a brick and mortar casino close by, I would be playing their and if I won I could forgo the waiting, get my winnings placed in the palm of my hand. China is having problems in a lot of different areas, so it is understandable that the citizens are putting gambling on the back burner for now. Catapultaudio is right, the competition factor is the highest it has ever been. Gambling is a growing pastime that can be engaged at almost any time, know matter where you are.
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    catapultaudio

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    Oh come on, it might be a major decline compared with previous figures but the total spend gambled is still incredibly high - I'm sure it isn't a million miles with the take over in Las Vegas ??? Casinos, whether land based or online need to work harder than ever right now to attract and retain customers because of the intense competition, so theres never been a better time for us players!
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    leannep

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    interesting about a gang running a gambling website but I am not sure that I understand what the impact on Macau's casino nightlife would be. Perhaps the fact that there isn't a lot of 'extra money' around - anywhere -- any more, doesn't get publicized to the rest of the world, from places llke China. Looks like a great place to go someday, but its Vegas or bust for me.

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