Macau sees casino gains slackening
Source: Agencies |
August 2, 2012, Thursday
|
Print Edition
Print Edition
CASINO revenue in Macau, the world's biggest gambling market, grew last month at the slowest pace since the global recession in 2009 as China's economic slowdown crimped demand from high-rolling gamblers.
Macau authorities released data yesterday that showed July revenue rose to 24.58 billion patacas (US$3.1 billion), up 1.5 percent compared with a year earlier and the lowest growth rate since mid-2009.
Macau casino revenues have rocketed in recent years thanks to legions of Chinese mainland high-rollers. In 2011, revenue soared 42 percent to US$33.5 billion, more than five times the amount earned on the Las Vegas Strip. But growth has trailed off in recent months as China's economy slows. July's numbers were also hurt by Typhoon Vicente, the strongest storm to hit Hong Kong in 13 years. The typhoon temporarily halted ferry services between Hong Kong and Macau.
Citing the slowdown in China, the world's second-biggest economy, Fitch Ratings last month cut its Macau gambling revenue growth forecast for 2012 for a second time to 10-12 percent from 15 percent.
Macau authorities released data yesterday that showed July revenue rose to 24.58 billion patacas (US$3.1 billion), up 1.5 percent compared with a year earlier and the lowest growth rate since mid-2009.
Macau casino revenues have rocketed in recent years thanks to legions of Chinese mainland high-rollers. In 2011, revenue soared 42 percent to US$33.5 billion, more than five times the amount earned on the Las Vegas Strip. But growth has trailed off in recent months as China's economy slows. July's numbers were also hurt by Typhoon Vicente, the strongest storm to hit Hong Kong in 13 years. The typhoon temporarily halted ferry services between Hong Kong and Macau.
Citing the slowdown in China, the world's second-biggest economy, Fitch Ratings last month cut its Macau gambling revenue growth forecast for 2012 for a second time to 10-12 percent from 15 percent.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
