Macau casino market suffers 18th straight revenue decline

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Macau casino market suffers 18th straight revenue decline

Message non lu par Monsieur G » 06 déc. 2015, 19:54

Macau's 18th straight monthly gaming revenue decline wasn't a surprise, but the November results were worse than expected.

Casinos collected $2.1 billion from gamblers during the month, 32.3 percent less than a year ago, Macau's Gaming Inspection and Coordination Bureau said Tuesday.

The percentage decline was the ninth month this year that Macau gaming revenue fell 30 percent or higher.

"November came in weaker than modeled," said Deutsche Bank gaming analyst Carlo Santarelli.

It also appears the monthly declines aren't going away anytime soon even as Macau adds more casinos.

Las Vegas Sands Corp., Wynn Resorts Ltd., and MGM Resorts International operate casinos in Macau and are building multi-billion dollar resorts that are expected to open next year.

In October, Hong Kong-based Melco Crown opened the $3.2 billion Studio City development. Deutsche Bank gaming analyst Andrew Zarnett said the property hasn't grown the market, just taken business away from its neighbors.

"At this juncture, our investment thesis remains largely unchanged, as we continue to believe that while Studio City is not by any means a game changer," Zarnett said.

http://www.reviewjournal.com/business/c ... ue-decline
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