People tend to get used to good news and when something changes after a long period of prosperity, they worry too much. This is exactly what happened with Macau casinos after revenue fell four consecutive months, even though the decline was of barely 4%. Following several months of perpetual growth, industry specialists were concerned that the downswing might continue in August and September, but there are good reasons to expect the local casinos to rebound.
Arguably the worst effect was caused by the World Cup 2014, a football competition that attracted both fans of the genre and rich people. Regardless of the motives that drove them away from Macau casinos, these highrollers caused a dent into the revenue of these ventures. Since this is a place where those who have the means to play at nosebleed limits spend a lot of time, their absence led to a decline that was worrisome for those in charge.
Following the upsetting numbers of June, many expected the revenue in July to increase a bit, since the football competition was set to end in mid-July. This didn’t happen, quite the opposite, which prompted specialists to ask themselves a bundle of questions, while ignoring the obvious. Those who found themselves on the sunny beaches of Brazil, couldn’t care less that the World Cup has ended and many of them decided to expand their vacation or travel somewhere else.
Regardless of the destination of choice, what really matters is that they postponed their return and Macau casinos were once again deprived by their money and the action they create. Another reason for why the industry suffered in July is that the Chinese authorities have tightened up the regulations and struck a painful blow to VIP gamblers and junket operators by targeting the UnionPay debit card devices.
Overall, this was a hot summer in Macau and it is not over, but the prospects for August are far more optimistic and September is the month that everyone is waiting for. A reasonable forecast for the upcoming month would be for the numbers to return into positive territory, with the casinos to return to their profitable ways in September and beyond. Poker players might choose Europe, where the EPT resumes this month, but those who prefer to play at no limit tables will stick to Macau casinos.