The gaming revenue in Macau fell 34.5 % in July 2015, from the previous year, to the five year lows as many wealthy Chinese casino players stayed away from the world’s biggest gambling hub by gaming revenue. Gambling revenue for the month of July fell to $2.3 billion, according to data released by the Macau government.
Since Macau is the only legal casino hub in China the Chinese visitors account for nearly 70 % of all visitors in Macaus land based casinos. Gambling revenues have fallen for the last year mainly to a broader government crackdown on corruption and money laundering. But also visitors visa limitations to the Chinese visitors, smocking regulations in the casinos and a broad economic slowdown in China are responsible for Macau’s drop by 10 % of the Chinese visitors.
The VIP customers revenue, who account for the biggest part of the of gaming revenues, fell to 55 % in the second quarter from around 70 % in 2014. Despite this drop, the former Portuguese colony still generates 5 times more gaming revenue than rival Las Vegas.
New Casinos believes that things may look better for the rest of the year. Some changes in rules have been discussed and are expected to increase the revenues for the region’s casinos. The smoking bans may be eased in several gaming floors and Chinese passport holders may stay for 2 days longer and could return to Macau after 30 days instead of 60 days. Also many new casinos, with many Las Vegas like attractions, will open in the second half of the year that will increase the non gaming revenues.