Gaming | Revenue to drop over 30 pct in April

Macau’s gross gaming revenue may drop by over 30 percent year-on-year with some gaming operators even forecasting a 40-percent decrease, data compiled by Lusa news agency shows. According to these forecasts, casino revenue in April might not even reach MOP19 billion, which would be the worst result of 2015.
Macau’s casino revenue fell for the tenth consecutive month in March 2015, representing its second-­worst year-on-year decline. Last month, gross gaming revenue plunged 39.4 percent to MOP21.49 billion.
In April 2014, the city’s gross gaming revenue reached MOP31.3 billion, representing a 13.1-percent increase from the previous year. However, Macau’s casino takings started recording a decline in June 2014.
Local casino revenue fell 2.6 percent to MOP351.5 billion in 2014. This was the first decline since Macau liberalized its gaming industry in 2001.
Data compiled by Lusa news agency with gaming operators such as Sands China and SJM shows that gaming revenue in April may drop by 30 percent year-­on-year to MOP22 billion. MGM China forecasted a “less optimistic” result, estimating a 40-percent decrease in gaming revenue.
The decline in gaming revenue has prompted the Macau government to amend its 2015 budget, reviewing its estimates over how much casino tax revenue it will collect down from MOP115 billion to MOP84 billion. MDT/Lusa