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Macau Betting Revenues Drop Again in July

Macau's Gaming Inspection and Coordination Bureau has published the region's July 2015 gambling financials, noting that revenues fell by 34.5% from the same period last year.

For the month of July revenues were 18.6 billion ($2.3 billion USD), but were better than the month before when revenues slipped 36% from the year before. It is thought that Macau's gambling industry will end up rebounding from recent record drops due to the fact that China is easing visa restrictions to the former Portuguese colony.

Macau's VIP gaming revenue dropped to 55% of the total in the region, down from 70% of total revenues during the same period last year. Year to date Macau's Gross Gaming Revenue fell 36.7%, and it is thought that by the end of the year revenues will be about 30% down from the year before.

For the last 14 months gaming revenues have declined due to a Chinese crackdown on corruption, slowing of the economy, and the above-mentioned restrictions. Macau casinos have seen their stock values fall from between 10-28% this year, and despite the poor financials the island destination still puts out revenues more than 5 times higher than that of Las Vegas.

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