First eight days of the month have shown fall in revenues by 36%
Macau November figures worse than predicted
Following the first week of business in Macau shares in casino operators fell following analyst’s predictions that revenues will be even lower than expected.
2015-11-11
Reading time 36 seg
Following the first week of business in Macau shares in casino operators fell following analyst’s predictions that revenues will be even lower than expected.
Of the 5 major analyst’s prior to the beginning of November the belief was that revenues in the world’s largest gambling hub would fall by 30% compared to last year, however following weaker than expected trade that figure has fallen by 32% to 34%.
The revised figures come as the first eight days of November have shown a fall in revenues by 36% with daily revenues coming in at $65.8 million, if correct then November will be worse than October with revenues falling then by 28.4% and this with the opening of the latest casino resort Studio City.
At present Macau is suffering from seventeen straight months of falling revenues and if as predicted November is the same then that will make 18 straight months of falling revenues.
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