Macau enters 25th straight month of decline
Macau’s gross revenue from games of fortune has experienced its 25th straight month of decline, dropping to 15.9bn patacas in June for a year-on-year decline of 8.5%.
Official data released by the Gaming Inspection and Coordination Bureau of Macau has shown that the return for June is the lowest since September 2010.
However, the rate of decline has slowed, with a contraction of 9.6% recorded for May.
Gambling revenue in the Chinese territory has been restricted by the corruption crackdown of President Xi Jinping, which has swept up a number of junkets, organisations which provide credit to VIP players.
The Macau government also outlawed phone betting in May, amid calls for greater accounting transparency.
There are signs Macau could be set to emerge from its two-year malaise, with the Wynn Palace and Parisian Macao expected to open their doors in the next two months.
Grant Govertsen, Head of Asia Equity Research for Union Gaming, is quoted by Bloomberg as saying: “The mass market quietly continues to show signs of modest growth.
“The market is heading into the right direction as we head into the opening of Wynn Palace and Parisian.”
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