Crown Resorts’s has had a turn for the worst in their joint venture casinos, owned by Melco Crown Entertainment- City of Dreams-Studio City and Altira- by dropping a whopping 89% to AUD $9.4 million.
These weakened profits are a reflection of the ever growing state of the weakening gambling market of Macau which in affect its own popularity.
So what’s the deal about gambling in Macau?
As the last half year in 2015, gambling in Macau as well as the overall gross gaming revenue has steadily declined and closed at more than 30%.
The Macau gambling activity took a blow in 2015 influencing Crown’s profits which varied in theoretical win rates against high-rolling gamblers by 34.8% to AUD10.3 million.
Crown’s overall online gambling business and casinos not affected in long term
Due to the local gambling market in Macau, the Crown Resorts as a whole will not suffer so much in these misgivings as their other properties worldwide are doing fine.
Crown reported a 1.6% lift in net profit to AUD205 million during the last six months of 2015.