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Gambling revenues going down in Macau

Gambling revenues going down in Macau

It would seem that the gambling hub of Macau is going through a rather dark period, with their gaming revenue going down for the 15th straight month. The area had just opened a couple of new gambling resorts which failed to attract a lot of mainland Chinese visitors over the popular school holiday season.

Their gross gaming revenue fell 35.5%, growing larger than July’s 34.5% drop. This streak of losses has dropped Macau’s GDP to its lowest since 2011 as an economic slowdown in China shrunk visits by mass market gamblers and high-rollers started avoiding the city amid Beijing’s crackdown on graft.

Don’t be afraid of joining a Blackjack table if you don’t fully understand the rules; dealers are pretty used to helping out beginner. Despite all of that, you should not have to check your strategy card every time it is your turn. Other players are waiting in line and it is bad etiquette to stretch your turn beyond a certain limit. You can try playing some online Blackjack at first to familiarize yourself with the game before stepping foot in a casino.

“After the opening of Galaxy phase two in May, the downward trend of gaming revenue has been remaining steady, which means incremental revenue brought by the new opening is basically zero. The tougher call is when the mass market can really offset the destruction of high-end demand,” said Richard Huang, a financial analyst from the area.

In response to these losses, Macau will try to cut public spending by about MOP 1.4 billion in the fiscal year of 2015, in an effort to reduce costs in the area such as the purchase of daily supplies and third-party services.

Macau lawmakers are also reviewing a bill to ban smoking on all the gambling floors, but this discussion might take a long while before it is resolved.

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