Macau casino gaming’s revenue fell sharply in the month of November, although the latest statistics were slightly better than many analysts had forecast.
Figures released on Sunday by the gambling inspection and coordination Bureau of Macau (DICJ) show the special administrative region casino operators generated gaming sales of MOP25b (US$2.84b) in November, an 8.5% drop from the same month last month 13.5% under October 2019 in total.
The November decline marked the seventh month of year-on-year declines so far in 2019, and the 8.5% drop was the second only for the 8.6% drop that the Macau market suffered in August. November’s yield was the second lowest of this year, on the MOP 22.1b in September alone.
Macau’s current woes have largely been laid to the doors of the VIP rooms of casinos, which have struggled as high-rollers give Macau a wide berth. The VIP skittishness has been attributed to a number of factors, including tightened liquidity for some manufacturing execs such as the Us-China trade war dragged off and the renewed interest of Chinese authorities in the activities of certain cottage cheese operators.
Macau’s overall market performance would have been much more acute if it wasn’t for strong growth in the segment of mass market gaming, which overestimated VIP Baccarat revenue in the first quarter of 2019 and has since been in charge. Held.
For the year-to-date, game revenue is 2.4% to MOP 269.7m (US$33.4b), and it looks almost like Macau’s two-year streak of annual sales will end in 2019. Macau posted annual increases in both 2017 and 2018 after three years of significant declines that began in 2014.
In December, Macau’s drop in revenue is expected to be extended as Chinese President XI Jinping goes to Macau in mid-month to mark the 20th anniversary of Macau’s handover from Portugal. Prior to Xi’s visit, China imposed temporary restrictions on Exit visas for travelers in Macau on November 22 that will reach out until December 20.
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