web analytics
⭐Best Online Casinos In United States⭐
Bitcoin Casino
Visit Bitcoin Casino
Roaring21 Casino
Visit Roaring21 Casino
CasinoMax Casino
Visit CasinoMax Casino
Cherry Jackpot Casino
Visit Cherry Jackpot Casino
Home » Slowdown In Macau’s Casino Gambling Industry Is Just Hype, Or Is It?
Slowdown In Macau’s Casino Gambling Industry Is Just Hype, or Is It?
Slowdown In Macau’s Casino Gambling Industry Is Just Hype, or Is It?
Asia

Slowdown In Macau’s Casino Gambling Industry Is Just Hype, Or Is It?

Macau casinos have been struggling to generate revenues because the slowdown in the Chinese economy and the Sino-US trade war is having a negative impact or the drop in VIP spend Macau casinos take a toll on overall revenue – we have been fed with several reasons as to why Macau casinos are not generating enough revenues.

While some month-over-month figures for the world’s biggest gambling hub could be concerning, it is not that Macau is facing a recession of sorts.

The latest figures released by the Macau Financial Services Bureau (FSB) reveal that the city’s casino gambling industry chipped in an impressive $9.49 billion in tax revenue between January and August 2019. The figures also represent a 1.5 percent year-on-year increase in tax contributions made by Macau casinos.

Surprisingly the surge in tax contribution comes even when the gross gaming revenue (GGR) of Macau has dropped 1.9% across the first eight months to August 31.

Moreover, Macau Casinos contributed to 89.6% of the city’s entire tax revenue picked from all sources.

However, the latest data released by the Statistics and Census Service (DSEC) show that the economy of the Chinese-controlled territory has shrunk by 1.8 percent year-on-year in the second quarter of 2019. The economy declined by a significant 3.2 percent in the first quarter.

The overall decline in Macau’s economy is estimated at 2.5 percent for the first six months of 2019.

About the author

Harry Matthew

Harry Matthew

Harry serves as a resident reporter for Casino Buzz. He has been responsible for building the content base and forms the core reporting strategies for the website. Along with reporting, Harry is an amazing baseball player with good record at university level. He can be reached at [email protected]

Add Comment

Click here to post a comment