Macau Hits Rough Spot

Even Macau has been seeing hard times in the last six months, even after being one of the most promising leading Asian casino locations ever. For the last three months now, the revenue numbers have been down, and now people are starting to worry how that will affect everything from the Asian economy to the job market.

A steady slew of unfavorable circumstances has continued to batter the Macau scene, as everybody from investors to online slots casino players look on in dismay. For one thing, this year’s calendar comparison is very negative, only since there is one less weekend in December from this year to last year, giving less of an opportunity to the casinos to make up for the negative performance.

Furthermore, there has been a recent change in legislation, which disallows Beijing residents to visit Macau so frequently, which is unfortunate because they accounted for a large part of the casino players previously. Futhermore, many of the players who logged on to Macau online sites, as well as visited their land casinos, often relied on credit to fund their gambling habits, but now with the dismal economic market, they have been defaulting on lines of credit and have not been able to pay.

In response, creditors are being much more controlled with who they lend money to, and therefore less people are able to access money, which means that less people are coming into Macau slots casinos.

Unfortunately, most people are staying away from casinos across the board, because they are worried that their money will not be able to carry them through another 6 months to a year of economic hardship. The slots industry in Macau will have to brace itself for another few quarters of more of the same.

Back to January 2009 Archive.