Casino operators in Macau have been skeptical of the prospects of the city’s gambling industry’s performance and revenue projections for 2020.
While there have been reports claiming that Macau’s gambling revenue would recover in 2020, casino operators in the city are now finding it hard to toe the line of such speculations. For several casino operators in Macau, the casino revenue even for the coming year is going to remain even.
In a recent interview with Bloomberg, Melco chief Lawrence Ho said that he is looking forward to how things unfold between the two economic giants the US and China as the ongoing trade war between the two has been taking a toll on gambling revenue of the city. He also said that ongoing pro-democracy protests in neighboring Hong Kong have taken a toll on the city’s casino gambling industry.
Talking to Macau Daily Times, Suncity Group CEO Alvin Chau Cheok Wa said that Macau’s casino revenue would be at par with what it has witnessed this year so far. He also said that given the money-supply policies of the Chinese government could negatively impact the city’s casinos.
Suncity Boss is not the only one as top casino operators have voiced similar concerns.
Revenue in Macau has been going downhill. The gambling hub is suffering both the trade war between the two economic superpowers and prolonged pro-democracy protests in neighboring Hong Kong.
The latest figures released by the city gambling authority reveal yet another month of decline. Casinos in Macau grossed MOP25b (US$2.84b) in revenue in November representing an 8.5 percent year-on-year decline. The November revenue was also down 13.5 percent from what the gambling regulator reported in October.
Wynn Macau, a subsidiary of US-based gambling and hospitality giant Wynn Resorts reported a terrible third quarter. The casino operator posted an 18 percent drop in its operating revenue for the third quarter.