gambling

Corruption Crackdown Causes Record Drop in Macau Casinos’ Income

Macau financial drop

Macau casinos’ income has decreased by 48.6% due to the policy of the Chinese Government which aims to put a stop to corruption.

According to Macau gambling news, betting players spent 38 billion Macau patacas (EUR 4.27 billion) in February 2014 while one year later they spent almost half of it, 19.5 billion patacas (EUR 2.19 billion). Revenues of the city’s casinos have been decreasing lately but this amount is a new record.

Despite the fact that the region keeps generating less and less income each month, Macau is still a far more popular and profitable gaming centre of the world than Singapore or Las Vegas. In 2013, their revenue was $45.2 billion, while in 2014 they had to handle a decline of 2.6 percent, leading to an income of $44.1 billion.

Chinese government aims to end Macau’s dependence on gambling

Macau gambling laws have forbidden casinos all over the country, with the only exception being Macau. This city counts on the income coming from gamblers as they are by far the most popular destination for high-rollers, but governmental actions are causing great problems for casino owners.

The purpose of the government on the long run is that corruption will completely cease to exist in the region and that they will be less dependent on gambling money. Xi Jinping, Chinese President visited the city in December, and highlighted the importance of diversifying the economy instead of trusting only the gambling industry.

Discuss Corruption Crackdown Causes Record Drop in Macau Casinos’ Income | User Rating