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Macau Casino Revenues Drops Beyond Expectation In July
Macau Casino Revenues Drops Beyond Expectation In July

Macau Casino Revenue Drops Beyond Expectations In July

Macau casino revenues suffer once again after posting positive revenue growth for two consecutive months. The revenue from Macau casinos dropped by 3.5 percent year-on-year in July, according to the figures released by Macau’s Gaming Inspection and Coordination Bureau.

Earlier in June, Macau revenues recovered as the casinos posted an overall 5.9 percent increase in revenue. Casino revenues in the world’s biggest gambling hub have been suffering for almost a year due to the slowdown in the Chinese economy amidst an ongoing US-China trade war.

The dip in revenue has once again been attributed to declining VIP visits.

The total revenue generated by Macau casinos was 24.5 billion patacas ($3.04 billion) in July. The drop in revenue was also more than what the analysts had earlier predicted. Analysts had estimated a 3 percent rise or fall in year-on-year revenue.

However, the revenue was up from 23.81 billion patacas which Macau casinos grossed in June.

According to experts, the entire episode with junket operator Suncity could also negatively impact the revenue growth in Macau as all six casino license holders, Sands China, Wynn Macau, MGM China, Galaxy Entertainment, SJM Holdings, and Melco Resorts work with Suncity to attract VIPs to their properties.

Last month, Chinese state media singled out Suncity and blamed it for facilitating online gambling for Chinese high rollers at casinos based in Cambodia and Philippine.

Sunctity, however, categorically denied the allegations and said they are operating in full compliance with local gambling laws and don’t have any involvement with online gambling operations whatsoever.

About the author

Utsav Kumar

Utsav Kumar

With a masters in literature and passionate about evolving technologies, Utsav has been covering the latest from the world of Blockchain, Artificial Intelligence, and AR for several online and print publications. He strongly believes that these evolving technologies have immense potentials to redefine existing online gambling infrastructures and can dramatically improve standards of customer protection. Utsav covers mostly compliance updates and other latest technical developments that impact the global casino and gambling industry. He can be reached out at [email protected]

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