A 40 percent drop in casino revenue in Macau has some people claiming that this is in fact a good thing. Macau’s Gaming Inspection and Coordination Bureau released some shocking data, showing that profits for the current month have plummeted to only $2.7 billion, a significant decrease and the second worst waning on official records.
Gambling market analysts state that since predictions about the decrease were actually spot on this only confirms that the market is in fact stable. The decline has much to do with China’s president Xi Jinping who has been discouraging high rollers from accessing the country’s only legal gambling location by imposing harsher visa laws and a smoking ban within the casinos.
Largely due to the aforementioned string of events, Macau is now facing the lowest income stream since 2011. Grave changes were also felt in February, when usually the Lunar New Year celebration would see a peak in gambling influx. This year revenues have dropped to 49%, a very big dip considering that in previous years February signified the busiest month for casino businesses.