Projection | Casinos 30 pct down in Dec, 2.5 over the year

Local gaming operators will end December with a year-on-year fall between approximately 30 and 32 percent and an annual drop of about 2.5 pct when compared with 2013, according to data collected yesterday by Lusa news agency.
Data collected from Sands China and Galaxy Resorts between December 1 and 26 estimates that the casinos will have takings of between MOP22.7 billion and MOP23.3 billion.
If this estimation is proven true at the end of the year, Sands China and Galaxy Resorts will end 2014 with takings between 2.7 and 2.5 pct lower than last year, ranging from MOP350.9 billion to MOP351.5 billion.
The region’s casinos have been witnessing a decline in their earnings since June with the biggest dip coming in October when the annualized fall was 23.2 pct compared with the same month in 2013.
The gaming operators contacted by Lusa expect that the year-on-year gross revenue downturn will continue until May 2015, given the strong results obtained during the first five months of 2014.
Macau currently has six gaming operators and 35 casinos. The region’s economy is heavily dependent on gaming and tourism as the casinos pay a 35% direct tax and another 4% or so in indirect taxes to the local authorities. MDT/Lusa