Macau revenue slumps post-Golden Week

The outlook for gross gambling revenue in Macau in October is dimming, with Wells Fargo analysts noting post Golden Week table play as being “very quiet.”
This follows a 30 percent decline in gaming revenues during the seven-day holiday, even though the number of visitors from mainland China rose by 17 percent compared to the National Day holiday in 2013.
There were also warnings the downturn may not be just cyclical, with the possibility of the high growth trend of the past failing to re-emerge.
In September, Macau’s gross gaming revenues fell by 11.7 percent to MOP25.6 billion ($3.2 billion) with mass table revenues increasing 15 percent year-on-year, while junket volume dropped 25 percent in the same period.
Analysts say China’s policies were negatively affecting growth in Macau, mainly in the implementation of visa restrictions, an anti-graft campaign, a cutback on credit and softening housing market.
Another factor to add to the list of uncertainties is Chinese President Xi Jinping’s visit to Macau in December.