Macau's October revenues have been reported by the Gaming Inspection & Coordination Bureau, with numbers coming in 3.2% less than last year.
The reason for the decline in numbers is largely to a decline in visitors, with October numbers up 11% but down 19% from the year prior. This drop in visitor numbers saw less money wagered in the casinos, leading to the drop in numbers. Casinos hauled in 26.4 billion patacas and comes a month after lower than expected numbers of 22.1 billion patacas in September.
Macau is seeing some tough times creeping in as increased competition from the likes of Vietnam, Cambodia, and the Philippines, many of which are courting the lucrative VIP players. This year it's expected that Macau will lose $2.6 billion to these destinations. Gambling numbers as a whole also dropped for Macau's total revenues, hitting a low of 40.9% for the year to date.
There's always a decent swing in numbers for Macau, which maintains its status as the world's largest gambling market. We'll be following the location's financial progress and updating readers in future months.