Macau Revenue Decline Slows in April
The world’s biggest casino hub, Macau, saw a fall of 9.5% in gambling revenue last month but the pace of decline was less than that of the previous month.
April was the twenty-third consecutive monthly decline for Macau and revenues have halved over the last two years reaching lows not seen in over five years. The decline is the result of China’s campaign against conspicuous spending among public officials which has reduced the number of mainland high rollers to visit the casinos together with slowing economic growth.
April’s revenue was at 17.34 billion Patacas (£1.4 billion) but it was still not as bad as the 11% to 16% that analysts had forecast. In March this year revenues fell by 16.3%. To try and counter the trend there are plans to develop non-gambling related facilities and to target the mass market rather than exclusive high rollers.