World Cup Causes Gambling Decrease At Macau Casinos

Macau casinos do not have much to complain about after the past couple of months. Revenue has grown to unbelievable proportions in recent months, and Macau casinos are experiencing one of the biggest booms in the history of the casino industry.

Although that is all good news, there is some bad news for Macau casinos this month. In June, revenue at Macau casinos was $1.7 billion. That represented an increase of sixty-five percent from the same period the previous year, but it was way down from May figures.

The World Cup is being blamed for the decrease from May to June. Many of the high rollers that were frequenting Macau casinos, have chosen to spend their money gambling on World Cup matches this past month. The lure of attending the games in South Africa has also hurt Macau casinos.

It has been estimated that gambling on the World Cup will be in the billions of dollars. Sports books around the world have been flooded through the group stages with millions of bets. The quarter-finals and the semi-finals are expected to receive similar action, if not increased betting.

"We believe July (will) see a similar temporary softness in VIP gaming as the World Cup approaches its final stages," wrote Deutsche Bank AG Analyst Karen Tang in a note to clients, as reported by AFP. "That said, we expect market growth top resume sequentially in August, which is traditionally the summer travel season."

Another factor that may be keeping gamblers from the tables and slots in M
July 2, 2010
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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