ormally results would be announced today but it is a national holiday in Macau.
“It is worse in October than it was before October,” Steve Wynn, chief executive of Wynn Macau, told a recent earnings call. The casino operator is building a US$ 4 billion integrated resort, complete with a lake and air-conditioned gondolas, in the territory. “I don’t know if it is a squall or if we are in the rainy season, or how long it will last, but we are still very bullish on Macau,” the gaming magnate added.
Beijing’s two-year anti-corruption campaign has taken its toll on the gaming sector, keeping big-spending, wealthy gamblers away – data from Macau’s gaming and inspection bureau shows that VIP revenue accounted for a record-low 56 percent of total revenues in the third quarter.