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Macau Revenues Drop Again in July

Gambling revenues in Macau dropped by 3.6% in July when compared to the same period last year, the second straight month in which revenues have fallen.

For the month of July Macau casinos brought in 28.4 billion patacas in revenues, which is down from the 29.5 billion patacas that the former Portuguese colony brought in last year.

Government officials are suggesting that World Cup betting distracted VIP baccarat players from coming into the area's 35 land casinos, but the numbers may signify changes are taking place in the Chinese economy.

Commenting on the drop in revenues Wells Fargo gambling analyst Cameron McKnight said, “We continue to believe 2014 will be choppy as VIP growth likely remains weak into fourth quarter and we haven’t seen a sustained improvement in revenues post World Cup."

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