Gambling in Macau China is almost as fun as playing slots for real money in Las Vegas Nevada. They have luxurious hotels and resorts with enthralling shows and much more entertainment. Many high rollers frequent the casinos in Macau China but it appears that many of the gambling dens have been accruing bad debt over the past couple of years according to a casino article on the bloomberg.com website with the title Macau April Casino Revenue Falls 9.5%, Less Than Estimated.
So, Chinese Macau Casinos High Rollers Accrue Bad Debt As Gambling Revenue Falls?
It has been no surprise that the economy in China is not what it used to be. In the 2000’s China’s economy was booming and gambling at casinos in Macau was popular amongst native high rollers as well as tourists. Now Bloomberg and many other financial websites have reported another decline in revenue this April 2016.
The Asian Casinos?
Indeed, The Asian Casinos in Macau China seem to be marketing to recreational gamblers. Additionally, they attract tourists says Daniela Wei and Jill Mao in their Bloomberg article. Furthermore, they went onto staying that the real money gaming revenue feels 4 percent. It went for 13.5 percent down to 9.5 percent, which equals 17.3 billion patacas ($2.2 billion). To add insult to injury it appears that some of the casino gambling parlors did not report their first-quarter earnings to their investors. These numbers are based on the data from Macau’s Gaming Inspection and Coordination Bureau.
This all seemed to have started in the mid-2014 with China’s anti-corruption campaign. The casino gambling revenue has been constantly declining since and the folks that playing slots for high stakes appear to be having trouble paying their gambling debts back.
Melco Crown Entertainment Ltd, Wynn Macau Ltd, and Galaxy Entertainment Group Ltd
Some of the real money casino gambling hubs that were mentioned in the Bloomberg article were Melco Crown Entertainment Ltd, Wynn Macau Ltd, and Galaxy Entertainment Group Ltd. It appears that these companies are focusing on marketing toward a different crowd in addition to the high rollers that play the best progressive jackpot slots for high stakes. They are searching for tourists and recreational gamblers for their new hotels and resorts.
Indeed, Tim Craighead is a Bloomberg Intelligence analyst. Moreover, he makes two statements. First of all, he says, “The casinos produced another reasonable monthly revenue performance in what is a seasonally slower shoulder month.” After that, he goes onto say, “It still looks to us that the business is stabilizing and the next big catalysts to watch for are the summer travel season. Also, the new resorts from Wynn Macau and Sands China.”