Gambling revenues in Macau fell 20% in June from a record high in May as FIFA World Cup 2010 fever kept high-stakes gamblers away. Macau’s casinos raked in about 13.6 billion Macau Patacas (1.7 billion US dollars) in June. According to data released by Macau’s Gaming Inspection and Coordination Bureau it represents a 65 percent year-on-year increase, but it is lower than the record-breaking 17.1 billion Patacas figure for May.
Macau, which is a former Portuguese colony returned to Chinese control in 1999, has now outpaced gaming revenue in Las Vegas. It is the only location in China where casino gambling is legal and thus attracts huge numbers of players from the mainland. “We believe July will see a similar temporary softness in VIP gaming as the World Cup approaches its final stages. That said, we expect market growth to resume sequentially in August, which is traditionally the summer travel season” wrote in a note to clients Deutsche Bank AG analyst Karen Tang.
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