Macau Gaming Win Falls 32 Percent In NovemberOptimism From October Results Suffers After Poor November |
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Macau gaming win fell more than 30 percent in November year-over-year, a performance for the region’s casino industry that unfortunately was worse than anticipated.
The casinos there won $2.1 billion from gamblers during the month, 32.3 percent less than a year ago, the local government said on Tuesday.
Gaming revenue fell 28.5 percent in October, which was the first month since January that the drop wasn’t more than 30 percent. Casino win has fallen 18 straight months after a meteoric rise for casino industry.
According to a report from the Las Vegas Review-Journal, analysts were expecting November to more comparable with October. China’s slowing economy is partly to blame.
Through the first 11 months of this year, gaming win is down roughly 36 percent. Revenue last year was $44 billion, roughly four times that of Nevada.
Despite the downturn, which is attributed to the Chinese government cracking down on junket operators, the world’s largest casino firms are still investing in Macau.
Wynn Resorts is one of them, though it recently announced that it was delaying the opening of its new $4.1 billion casino complex. This fall, Steve Wynn blasted Macau for its table game cap.
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