In Macau
VIP gaming predicted to stay weak for rest of 2014
2014-09-09
Reading time 39 seg
(Macau).- JL Warren Capital blames last month’s decline in VIP gaming business in Macau’s casinos on the sluggishness of the mainland market for expensive property, the mainland’s campaign against corruption, curbs on the abuse of transit visas and competition from other East Asian casinos.
The city’s VIP gaming revenue was 19 percent lower last month than a year earlier.
The research house thinks VIP gaming revenue is unlikely to improve this year.
In other economic news, deposits by non-residents in Macau banks amounted to US$ 28.31 billion at the end of July, 6.7 percent more than a month earlier, official data show. The Monetary Authority of Macau says deposits in banks by residents rose by 1.2 percent. Deposits by the public sector grew by 2.3 percent.
Domestic lending to the private sector grew by 2.5 percent. Loans to residents as a proportion of deposits by residents rose by 1 percentage point to 55.9 percent. All loans as a proportion of all deposits grew by 0.5 percentage point to 82.3 percent.
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