Macau Q2 Financial Report Says Casino Revenue Continues To Decline
Macau's VIP Baccarat Games Sales Drop 42.2% In Q2, Nearly $4 Billion. Total casino gaming revenue in the first half of the year was down 37% compared to the same period in 2014, a decrease in revenue of approximately $15.25 billion.
Macau casino revenues continue to plummet due to many factors, including slowing growth in China's stock and real estate markets and a leadership-driven anti-graft campaign. Also of concern is the very high percentage of casino revenues generated almost exclusively through VIP baccarat. The Macau Game Bureau reported that more than 91% of casino revenue in the first third quarter came from this single game.
Macau is the only region in China where gambling is legal, and it earns more than five times as much as Las Vegas. But the revenue of Vegas is much more diverse. Only about 24% is distributed through baccarat, 47% through slot machines, and the remaining 29% to other gaming options.
Chinese President and Communist Party General Secretary Xi Jinping almost immediately began targeting corruption within the party, the military, government administration, and state enterprises, and hundreds of state officials, including judges, teachers, security officials, and finance officials, have since been investigated and prosecuted.
Within Macau, Xi's anti-corruption drive focuses on curbing billions of dollars in illicit money laundered through controversial VIP junket operators away from mainland China, particularly involving several suspected triumvirate figures like Cheng Qitai.
Chinese government officials are scrambling to tighten controls on money being transferred through China's main banking system to further reduce money laundering to Macau and Hong Kong. But government officials are also relaxing rules that allow mainland residents to obtain transit visas to and from Macau.
Xi has directed Macau's leadership to diversify the casino's revenue potential and rebuild revenue streams that no longer rely solely on VIP baccarat. 슬롯
Macau casino revenues continue to plummet due to many factors, including slowing growth in China's stock and real estate markets and a leadership-driven anti-graft campaign. Also of concern is the very high percentage of casino revenues generated almost exclusively through VIP baccarat. The Macau Game Bureau reported that more than 91% of casino revenue in the first third quarter came from this single game.
Macau is the only region in China where gambling is legal, and it earns more than five times as much as Las Vegas. But the revenue of Vegas is much more diverse. Only about 24% is distributed through baccarat, 47% through slot machines, and the remaining 29% to other gaming options.
Chinese President and Communist Party General Secretary Xi Jinping almost immediately began targeting corruption within the party, the military, government administration, and state enterprises, and hundreds of state officials, including judges, teachers, security officials, and finance officials, have since been investigated and prosecuted.
Within Macau, Xi's anti-corruption drive focuses on curbing billions of dollars in illicit money laundered through controversial VIP junket operators away from mainland China, particularly involving several suspected triumvirate figures like Cheng Qitai.
Chinese government officials are scrambling to tighten controls on money being transferred through China's main banking system to further reduce money laundering to Macau and Hong Kong. But government officials are also relaxing rules that allow mainland residents to obtain transit visas to and from Macau.
Xi has directed Macau's leadership to diversify the casino's revenue potential and rebuild revenue streams that no longer rely solely on VIP baccarat. 슬롯
2023-10-27 19:39
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