Macau Gaming Revenue Falls To $29B In 2015Casino Win Drops 34.3 Percent Compared To 2014 |
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December was the 19th straight month of year-over-year gaming revenue decline in Macau, the local government said Friday. When added to the rest of the year’s months, the casinos in Macau won $28.93 billion from gamblers in 2015, a drop of 34.3 percent compared to 2014, Macau’s Gaming Inspection and Coordination Bureau said.
It was the second straight year of less gaming revenue than the year before. Macau had a record $45.2 billion in gaming revenue in 2013.
Roughly two thirds of the city’s economic activity is from casino gambling.
Macau gaming revenue is predicted to fall by another eight percent in 2016, according to a report from Bloomberg. Prior to Macau’s sudden downturn, it was predicted in a Wall Street Journal report that in 2017 the casino gambling market would hit $77 billion.
Despite the situation, $20 billion has been invested into new casino projects in Macau, with new projects from MGM, Wynn and Las Vegas Sands all slated to open this year.
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