Global Uncertainty Takes a Toll on Casino Revenue
Growth for Macau’s casino gaming revenue reached only 1.5% for July. That’s the lowest rate since 2009 – down from 40% last year and around 65% in 2010.
And although it could rebound soon, don’t expect it to fully recover overnight.
Gaming analyst for Bank of America Merrill Lynch, Billy Ng, says, “We’re kind of expecting that it’s closer to the bottom, but we are not saying we are going to be seeing a very strong recovery, either.”
Macau casinos aren’t the only ones struggling right now…
After a recent trip to Las Vegas, our Senior Correspondent, Karim Rahemtulla, told WSD Insiders that although the city was booming, profits at casinos tell a different story. (Go here to see Karim’s analysis on what this means for the economy as a whole.)