June’s casino revenue drops 8.5 percent in Macau

Macau’s Gaming Inspection and Coordination Bureau posted the results of the gambling hub’s financial performance in June.

Macau.- Macau’s Gaming Inspection and Coordination Bureau today issued a report on the financial performance of the city’s casinos in June, showing that gross gaming revenue was down 8.5 percent year-on-year to MOP15.9 billion (US$1.99 billion).

This marks the 25th consecutive month when a drop in Macau’s revenue has been reported. Furthermore, the Asian gambling hub has had its worst month in terms of proceeds from its gambling venues since 2010.

The 8.5 percent drop reported by the bureau was aligned with analysts’ expectations for a fall of between 5 percent and 12 percent. The June fall followed a 9.6 percent decrease in May, whilst revenue from Macau’s casinos dropped 13.6 percent on a month-to-month basis. Macau’s gambling venues generated gross gaming revenue of MOP107.8 billion (US$13,49 billion) during the first six months of 2016, reflecting a 11.4 percent drop on a year-over-year basis.

Macau’s gambling industry annually contributes to 80 percent of Macau’s tax revenue. As casinos experience their worst downfall, city officials are looking to limit that dependence on gaming the industry, diversifying its touristic offer.