Macau’s casino industry is in decline

Macau's casino industry is in decline 3

Macau’s casino industry is in decline

Three months ago, Las Vegas casino tycoon Sheldon Adelson was very excited about his new project in Macau.

>>The most luxurious casinos in Macau

However, when both were full of confidence about the future in Macau, it was also the time when the market began to cool down.

Inside Venetian Macau of Las Vegas Sands.

Casino operations in Macau began to decline as the effects of the economic downturn gradually became evident.

The main reason is that the size of the market is so large, revenue in 2011 was equivalent to Las Vegas Strips.

The 2008 – 2009 crisis had a significant impact on the gambling industry.

However, according to casino analyst Grant Chum at UBS Bank, this situation is unlikely to repeat because in 2008, many large casinos here had just opened.

According to CLSA, a brokerage company in Asia, Macau casinos can achieve pre-tax profits 4 times higher than casinos in Las Vegas.

However, last month, the Vice President of the Agricultural Bank of China was arrested for allegedly using illegal money to gamble in Macau.

Analysts have not yet confirmed whether these two things are related or not because China’s visa policies are often very ambiguous.

Macau is no longer a special place as casinos are springing up across Asia.

All of this indicates that building a new casino in Macau is a very risky move.

Ha Thu (according to Financial Times)

Post Comment