Macau Casino Profits Likely To Drop By 95% In Q1! OPN NewsDesk April 25, 2020 Macau ’ s gaming market was in doldrums even before the start of 2020, the situation, however, worsened after the Coronavirus outbreak in China. With Casino Profits Sky High, Macau Nevertheless Wants to Be More Like Vegas With gaming revenues that dazzle, Macau nevertheless would like to emulate the vegas model more For years, ‘Las Vegas’ has been synonymous with ‘gambling mecca’ the sine qua non for the casino industry, the benchmark for how other gaming destinations desired to […] Gross gaming revenue for Macau casino operators was 24.3 billion patacas (USD 3 billion) last month, down 8.6 percent from a year earlier. Analysts’ expectations had suggested a drop of 2% to 6%. So far in 2019, gaming revenue expanded for four months and contracted for four. Profits at Macau’s 6 biggest casino operators fall 40% Hong Kong-listed Galaxy rounds out difficult first-half results season with 43% drop Share on Twitter (opens new window) It seems that Typhoon Mangkhut failed to make any sort of large impact on Macau’s casino profits. Though the deadly typhoon reportedly killed several people and forced the Hong Kong government to shut down Macau casinos for an entire day over safety concerns, the storm hasn’t had any impact on Macau’s gross gaming revenue (GGR). Macau, the world’s largest gambling hub, is on its way to seeing casino profits surge toward highs set before a Chinese government corruption crackdown drove wealthy high-rollers away. Galaxy Entertainment Group Ltd., one Macau’s biggest casino operators, reported its profit dropped 7% in the first half of the year as the world’s richest gambling hub continues its efforts at a recovery after a national crackdown on corruption scared away high-rollers. The company posted profits of HK$6.7 billion ($850 million) in the first six months on revenue of HK$26.2 billion Home » Macau casino reports profits fall. Casino News. by Jim Turnberg. 8 months ago 0 128. The Emperor Entertainment Hotel in Macau has reported a 29.2 per cent drop in profits in the year to March 31. The Hong Kong-based company reported a profit of US$34.1m compared with $47.4m in the previous year. With Casino Profits Sky High, Macau Still Wants to Be More Like Vegas. Posted on: December 3, 2013, 05:30h. Last updated on: December 2, 2013, 11:53h. Macau, the world's largest gambling hub, is on its way to seeing casino profits surge. Bloomberg's Daniela Wei reports on "Bloomberg Markets: Asia." (Source: Bloomberg)
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