Macau casino sales fell for the 17th consecutive month in October, but the drop was less than in the past few months, fueling hope in the world’s largest gambling center that the crisis has begun to ease.
The information was provided by the Macau Gaming and Inspection Coordinating Bureau (DICJ), which reported a 28.4% year-over-year decline in October sales to MOP201 billion or about $2.5 billion. Year-over-year figures show the decline is MOP 176 billion, 35.5% higher, but the decline was the slowest since January, when the notable decline was 17.4%. Since February, the average monthly decline has been about 28%.
Macau’s total October sales were 3 billion MOP more than September, and the decline was also better than 33% in September. 안전놀이터
As a result, MGM China Holdings Limited shares rose 2.5%, Win Macau Limited shares rose 3.2%, and Sands China Limited shares rose 1.1%.
However, it cannot be ignored that October is traditionally a stronger month than the rest of the month due to the golden holiday, in which a large number of Chinese tourists head to gambling heaven. This year, mainland visitors have increased by 7.1%, but this is still lower than 17.1% in the same period in 2014. As a result, gaming revenue generated during Golden Week fell by 28%.
Macau struggles to revive gaming industry after Chinese government crackdown on corruption. This incident, along with a slowdown in the Chinese economy, has prompted China’s high-profile interests to avoid casinos in Macau and maintain a low profile.