Supplier News
China –Macau’s revenues slump by almost 50 per cent
By Phil - 4 March 2015
Revenue in Macau fell by its worst ever amount in February, slipping by an unprecedented 48.6 per cent in February, due to the now usual combo of an economic slowdown and China President Xi Jinping’s campaign against extravagant spending.
Revenue dropped to 19.5bn patacas ($2.44bn), down from 38bn patacas a year earlier, according to Macau’s Gaming Inspection and Coordination Bureau. It marked the ninth consecutive monthly fall in gambling revenue.
Grant Govertsen, an analyst at Union Gaming Group, said: “The biggest culprit for the weak month was the already-troubled VIP segment. While we believe there was a pickup in VIP headcount, gaming volumes just weren’t there.”
Aaron Fischer, a Hong Kong-based analyst at CLSA, added: “On the plus side, all operators maintain a very positive medium term and no drastic action has been taken. They are very comfortable with capital expenditure plans for new projects.”
