Macau’s casinos revenues fall

A continued decline in Macau gaming volume has reflected in its revenues, marking the worst results since July 2010

Macau.- For the 18th consecutive month the revenues from Macau’s casinos have fallen, declining 32.2 percent year-on-year to 16.425 billion Patacas (US$2.053 billion). According to the city’s Statistics and Census Service, its economy shrank by 24.2 percent year-on-year during three months to September.

The result of last month revenues in the special autonomous region of China is the worst since July 2010. Through this current year the casino’s revenues stood at 212.5 billion Patacas (US$26.562 billion), which indicates an annual fall of 35.3 percent when compared to the 328.236 billion Patacas that were recorded in the first 11 months of 2014. The fall was larger than expected by analysts, who predicted it would round 31%.

“Economic contraction in the third quarter was attributable to the continuous decline in exports of services, of which exports of gaming services decreased by 37.4 percent year-on-year and exports of other tourism services dropped by 15.3 percent,” reported the Macau’s Gaming Inspection and Coordination Bureau.