11 year growth streak broken
Macau casino revenues down for first time since 2002
(Macau).- Macau’s full-year casino revenues declined in 2014 for the first time since records began in 2002, according to the territory’s Gaming Inspection and Coordination Bureau.
2015-01-05
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(Macau).- Macau’s full-year casino revenues declined in 2014 for the first time since records began in 2002, according to the territory’s Gaming Inspection and Coordination Bureau.
Gaming revenues last year fell by 2.6% to USD 44 billion to bring to an end 11 consecutive years of growth.
The year-on-year dip in December was particularly stark, with a 30.4% fall to P23.3 billion, accelerating a decline of 19.6% in November. December represented the seventh consecutive month of year-on-year decline.
The share prices in the six largest casino operators lost an average of 39.6% of their value in 2014, according to the Bloomberg news agency – the first such decline since 2008.
The report added that analysts at Barclays Bank believe revenues are likely to continue to fall until the middle of this new year.
The Chinese gambling resort posted gambling revenue of USD 45 billion in 2013, an increase of 18.6% on the previous year.
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