ambling revenue in Macau rose 0.6% year-on-year in September touching its lowest level in a year, with a lower demand from high roller gamblers amid the ongoing Sino-U.S. trade war and protests in neighbouring Hong Kong preventing from higher gains.
Revenue of 22.1 billion patacas ($2.74 billion) was within the range of analysts’ expectations from a fall of 1% to a rise of 2%, although down from August’s monthly haul of 24.3 billion patacas, according to data Tuesday from the Gaming Inspection & Coordination Bureau.
High roller demand has been hit by slowing economic growth in mainland China and a weakening yuan, which has made it more expensive to gamble.
Protests in the Asian financial hub of Hong Kong have caused transport disruption and deterred travel to the former British colony and then on to Macau, although some analysts say the impact on gaming revenues has been minimal, according to Reuters. Macau itself has seen little dissent to Beijing’s rule and joins celebrations this week of the 70th anniversary of the founding of the People’s Republic of China.
Analysts said a planned visit by Chinese President Xi Jinping in December to mark 20 years under Chinese rule will likely put pressure on VIP gaming revenues as so-called “big whales” put off visits.