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The 41 casinos in Macau reportedly ended December on a downward note after recording a 13.7% year-on-year decrease in monthly aggregated gross gaming revenues to slightly over $2.84 billion.
According to a Wednesday report from GGRAsia citing official information from the city’s Gaming Inspection and Coordination Bureau regulator, the December figure represented the largest comparable monthly drop since the 16.3% diminution experienced in March of 2016 and helped to push the industry’s final annual tally down by 3.4% year-on-year to approximately $36.44 billion.
Patchy performance:
GGRAsia reported that the full-year result followed a 2018 in which the many casinos in Macau managed to chalk up a 14% rise year-on-year in aggregated gross gaming revenues to around $37.74 billion, which had represented the most lucrative twelve months since 2014’s concluding reckoning of almost $43.81 billion.
Worsening weather:
For the fourth quarter of 2019 and the official data reportedly showed that Macau’s casinos recorded aggregated gross gaming revenues of $8.99 billion, which equated to a fall of 8.4% year-on-year, to follow the 4.1% decline to $8.82 billion experienced for the third quarter.
High-roller wane:
Macau is home to some of the world’s largest and most famous gambling venues including Melco Resorts and Entertainment Limited’s 1,600-room Studio City Macau as well as the iconic Casino Grand Lisboa from SJM Holdings Limited. The information from the Gaming Inspection and Coordination Bureau moreover reportedly indicated that the enclave had experienced a 22.5% year-on-year drop in third-quarter earnings from VIP players to about $3.85 billion while their mass-market compatriots had contributed a further $4.95 billion.
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