Macau casino revenues fall 8.6% in August
HONG KONG (Reuters) - Gambling revenue in Macau's Chinese territory fell 8.6% in August of the year, affected by the decline in demand from big players, due to the slowdown in economic growth amid the China's trade war with the United States and protests in neighboring Hong Kong.
The August figure was 24.3 billion patacas ($ 3.01 billion), said the Inspection and Coordination of Macau Games in data published on Sunday, below analysts' expectations of a 2% to 6% drop .
The figure was slightly lower than the monthly income of 24.4 billion patacas in July.
While protests at the Asian financial center in Hong Kong have disrupted transportation and deterred trips to the former British colony and then to Macau, analysts say the impact on the game's revenue has been minimal.
However, protests have added to the impact of factors such as a typhoon at the beginning of the month that hit the coastal cities of China and hardened liquidity in the VIP sector of the big punters.
Suncity, Macau's largest model operator, which operates VIP gaming rooms in Asia, was singled out by state media in July for raising billions of dollars in online games and proxy bets, causing great damage to the social economic order from China.
The negativity surrounding Suncity continues to put pressure on VIP trash, as some agents withdraw some funds and some VIP players delay visiting Macao, said Vitaly Umansky, an analyst at Sanford C. Bernstein in Hong Kong.
($ 1 = 8.0750 patacas)
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