The Macau casino industry is one of the most lavish in the world with a huge number of iconic casino venues operating in this area. Macau has long been the gaming capital of Asia with over thirty casinos operating here. In the past, all of the Macau-based casinos were owned and managed by Stanley Ho, but back in 2002, a new era of gambling in Macau started.
This year, the government of China decided to step in and finally halt the gambling and casino monopoly led by Stanley Ho. Since this time, Macau has become home to many foreign casino operators. Moreover, the area also opened its doors to many international investors who gladly brought many billion-dollar worth gambling establishments.
Macau Gambling Establishments
Among Macau-based casinos, the largest establishments are definitely the Sands Macau, Wynn Macau and Venetian Macau Casino where customers can enjoy an impressive variety of casino games from thousands of slot machines to an excellent variety of baccarat, roulette, and poker games.
What is even more, these casino facilities have also brought luxury shopping, dining, and entertainment to the area with a variety of high-end brands that offer its products. While there are still many resorts and hotels in Macau which focus on catering to businesses and families, the majority of such establishments are not gambling-free, hence they cater towards fans of gambling.
However, the gambling industry in Macau including over thirty-five gambling facilities operating in the area had experienced a rather disappointing aggregated revenue figure for the previous month. As reported, the over thirty-five casinos in the area had chalked up a massive 8.5% decrease in their aggregated gross gaming revenues on a yearly basis to hit just over $2.8 billion.
November Aggregated Gross Gaming Revenues as the Lowest of the Year
As reported by Inside Asian Gaming several days ago, the Macau November financial figures related to its aggregated gross gaming revenues are actually the second-lowest for this year. The figures were shared by Macau’s Gaming Inspection and Coordination Bureau. While the November aggregated gross gaming revenue figure was the second-lowest for this year, a bigger disappointment is that the October figure was also extremely low.
The Macau-based casinos had experienced a great decline in aggregated gross gaming revenues of around 3.2% to hit around $3.2 billion. Back to the November figure, the decline in aggregated gross gaming revenues in the previous month also means that the region has experienced massive declines in its aggregated gross gaming revenues for seven out of the eleven months which have passed. These figures when compared to the year-to-date combined tally suggest a massive combined decline of 2.4%.
As previously mentioned, Macau is home to some of the biggest, most iconic gambling facilities in the world including the legendary Casino Grand Lisboa owned by the SJM Holdings Limited company. The area is also home to iconic Studio City Macau owned by Melco Resorts and Entertainment Limited. Despite the iconic reputation of these venues, the month of November saw the Macau-based casinos record a massive 25% deterioration in aggregated gross gaming revenues from their VIP, high roller gamblers.
Moreover, the casinos have also experienced between 5% to 7% associated corrosion from takings related to the industry’s mass-market field. All in all, the November results for the Macau-based casinos were not as bad as many financial analysts and experts in the industry had predicted.