Macau revenue falls again, no recovery this year

For the third straight month, Macau casino revenue fell in August, local casinos’ worst performance since the dark times of 2008-09. Analysts don’t expect recovery before 2015 for the world’s biggest gaming destination.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

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One Response to “Macau revenue falls again, no recovery this year”

  1. jensan96 Says:

    Interesting and partially true statement, to the betterment of Macau the decline in revenue predominantly due to VIP gambling removes the elitist structure of Macau gambling
    IMO this will allow a move more to non casino revenue streams which will evolve in the next decade. Eventually to 35% of the total revenue will be from these streams. Not as large as Vegas , but even Vegas took decades to evolve.
    The revenues to the govt from taxes has benefitted Macau , to a substantial surplus. Yes, Adelson is a businessman first & yes in the financial crisis he chose Singapore commitment to develop versus the 18 month delay that affected 11,000 employees in Macau.
    However, the commitment was resumed and completed. Whereas in 2010 , your blog indicated the casinos would not succeed in Singapore. Everyone agrees financially the casinos operating income has been able to pay for themselves in 4 years.
    The question that must be addressed, how will Macau plan it’s future infrastructure as Casino revenues expand , possibly doubling by 2022. Developing secondary and tertiary industries, expanding the quality of education from elementary to university levels. An increase of wages for salaried employees and benefit packages must and will occur.
    The evolution of Macau from churches, temples, factories, brothels and triads – though not utopia – in ten years a substantial improvement.
    My belief the co- ordinated efforts of governments of China and the SAR directing the casino operators will continue to positively change the landscape externally and internally.

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