Macau Gaming Revenues Fall By 16.3 Percent In March
The story of Macau’s plummeting gambling revenues is not really a headline anymore. The crackdown by the Chinese government on corruption in the former Portuguese colony is hardly a temporary slump and gaming revenues have fallen for the 22nd consecutive month in March. Government figures released showed that gambling revenues for the month of March were $2.3 billion which is a 16.3 percent drop from February.
It is almost two years since the crackdown started and few expected it to last so long. You would need to be exceptionally optimistic to think that the Chinese would allow things to return to the way they were prior to clampdown on corruption that included many high ranking government officials and VIP high rollers.
The recent revenues are a record five year low and are in line with expectations of analysts who predicted a 13 to 16 percent decline for March. One of the main reasons for the declines is the absence of VIP high rollers who are wary of the authorities and are choosing to take their money elsewhere. In 2015 over two thirds of total revenue in Macau came from VIP high rollers and this has fallen by just over half.