IAG June 2015 - page 6

inside
asiangaming
JUNE2015
6
Rocky
Road
Ahead
N
ot long ago, the only thing analysts covering
Macau gaming disagreed about was how fast
it would grow and which operators would
benefit most. Analysts speaking at this year’s
Global GamingExpoAsia (G2EAsia), against a
backdropof 11 consecutivemonthsof declining casino revenue
as new resorts begin to come on line, disagreed on a host of
issues, including whether gaming revenue or stocks have
found abottom, the timing and shapeof any possible recovery,
the impact of additional market supply into the teeth of this
downturn andmuchmore.
After grossgaming revenuehit a recordhighof 38billion
patacas (US$4.75 billion) in February last year, it slowed to
a trickle during the next threemonths and began to decline
in June. President Xi Jinping’s anti-corruption campaign in
mainland China is widely seen as the principal reason for
the decline.
Last year, grossgaming revenuedeclinedby2.6%—thefirst
ever annual fall since the liberalization of the industry in 2002.
Feature
In Focus
EvenoptimisticMacau
gaminganalystsdon’t expect
recoveryuntil next year
By
MuhammadCohen
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