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The past months hasn’t been all good for the world’s biggest gambling hub, Macau, as they have experienced significant drops in the revenues across the board. Not only are the VIP’s currently either staying away or gambling less, due to corruption control in China, you also have fewer tourists coming in from abroad.
In total the table games revenues fell 13% year-on-year in November, with total gaming revenues reaching $3.04 billion in November. While the number is extremely high, it is still a decrease compared to earlier and it doesn’t seem like a change is around the corner.
Wells Fargo expects a -4% revenue growth in 2015, compared to their earlier forecast of -2% overall. For VIP’s however, the numbers are much worse as it is expected that revenues generated by them will go down 7%, which is such a big part of the total revenues in the gambling mecca.
When the stage two developments opens up in Macau, Wells Fargo believes that Macau can turn around their revenue issues, as well as through the new border opening times and easier visa rules. Something needs to be done for Macau to continue to expand the way they have been doing in the past.