Casino gambling revenue in Macau falls 2.6 percent in 2014

5 January 2015

Gross gaming and gambling revenues in Macau fell by 2.6% in 2014 to 351.521 billion patacas (US$43.94 billion), the first downturn since liberalisation, the region’s Gaming Inspection and Coordination Bureau (DICJ) said.

In 2013 gross casino gaming revenue reached 360.749 billion patacas.

In December revenue fell 30.4 percent to 23.285 billion patacas (33.46 billion patacas in December 2013), and the percentage change recorded was the lowest since the beginning of the year and since a downturn began in June 2014.

At the end of September 2014 there were 35 casinos in Macau operated by six concession holding companies, 20 by Sociedade de Jogos de Macau, six by Galaxy Casino, four by Venetian Macau, three by Melco Crown Jogos (Macau), one by Wynn Resorts (Macau) and one by MGM Grand Paradise, with a total of 5.697 gambling tables and 12,584 slot machines.

However, Melco Crown, a partnership between Lawrence Ho and Australia’s James Packer, announced last Friday that it would no longer be listed on the Hong Kong Stock Exchange for reasons of “cost and utility.”

“Maintaining the share price (…) requires fulfilment of additional obligations and those obligations involve significant costs,” the company said in a statement.

Adding that the request for delisting was still based on “very limited” trading levels the company added that it would keep its listing on the NASDAQ. (macauhub/MO)