Macau April Casino Revenue Falls 9.5%, Less Than Estimated
- Casinos now turning to recreational gamblers and tourists
- Gaming revenue decreased 9.5% versus 13.5% estimated decline
Bank of China Ltd. building, second left, Casino Grand Lisboa, operated by SJM Holdings Ltd., third left, and Wynn Macau casino resort, operated by Wynn Resorts Ltd., right, stand illuminated at night in Macau, China, on Sunday, Dec. 06, 2015. Casino operators in the Chinese gambling hub of Macau saw a 32 percent slump in revenue in November from a year earlier and it's fallen for 18 straight months, data from the city show.
Photographer: David Paul Morris/BloombergMacau’s April casino revenue dropped less than analysts estimated in a sign of stabilization as casinos shift their focus to attracting more casual gamblers and tourists.
Gross gaming revenue decreased 9.5 percent to 17.3 billion patacas ($2.2 billion), according to data from Macau’s Gaming Inspection and Coordination Bureau, marking 23 consecutive months of declines. That compares with a median estimate of a 13.5 percent drop by seven analysts in a Bloomberg survey and a 16.3 percent decrease in March.