Macau casino gaming revenue declined for the 18th straight month in November. This comes despite the much ballyhooed opening of Melco Crown’s Studio City resort in October.
Hope was high in Macau as November’s revenue figure would be the first proper indication of the impact of the Hollywood-themed resort. Those hopes were dashed when the Gaming Inspection and Coordination numbers were released Tuesday as the gross gaming revenue fell 32.3% year-on-year to MOP 16.4 billion.
The figure was the lowest monthly GGR recorded since 2010, sad DICJ, sinking tonear five-year lows
This marks the 18th consecutive month of declines triggered by Beijing’s corruption crackdown and slowing economy in China. Beijing continues to urge casino operators to diversify their revenue streams by changing their focus away from VIPs to the mass-gaming market and rebrand the city’s image to a more family-friendly destination.