Despite the doom and gloom of the casino industry of late the Gaming Inspection and Coordination Bureau of the Special Administrative Region has today revealed turnover figures for the Chinese enclave of Macau. Despite a flurry of bad news towards the end of 2008, with a number of projects delayed and some cancelled, the enclave still managed to increase turnover to a record US$13.7 billion.
The figures for the final quarter of 2008 show receipts of $3.12 billion, a drop of 7% on the previous quarter, although a smaller decrease of 0.25% year-on-year. It would appear turnover for Macau peaked in the early part of 2008 and then started to unwind as the worldwide economy and worldwide casino sector began to struggle. But can Macau claw back its position in the market?
As we have covered a number of times on the site, the infrastructure and casino sector in Macau is still very much at an early stage but far more developed than many other casino markets in the region. As and when the worldwide economy begins to recover you will see the return of high rollers to places such as Macau although it may take some time to return to former highs.
Despite the doom and gloom of the casino industry of late the Gaming Inspection and Coordination Bureau of the Special Administrative Region has today revealed turnover figures for the Chinese enclave of Macau. Despite a flurry of bad news towards the end of 2008, with a number of projects delayed and some cancelled, the enclave still managed to increase turnover to a record US$13.7 billion.