While the results marked the 11th-straight month of increased revenue, the industry is still recovering from a two-year slump triggered by a crackdown on corruption in the mainland. June results
New casinos opened by companies including Wynn Resorts and Las Vegas Sands are wagers that revenue will keep accelerating amid increasing competition.
Casino operators, prodded by a government dependent on the revenue Macau pulls in, have begun to offer more non-gambling attractions, from Broadway-style shows to a Ferris wheel, to diversify the tourism market.
Policy risks remain, as Macau’s government and Chinese authorities put in new regulations to deter capital outflows from the mainland, including facial recognition technology on automated teller machines to curb money laundering. The arrest by police of 17 suspects involved in proxy betting in mid-June also suggests stricter enforcement of regulations.
Casinos also face a setback in expansion attempts in China, after a Shanghai court in June convicted 19 Crown Resorts current and former staff of illegally promoting gambling in the mainland. The convictions coincide with a planned new wave of Asian casinos, from Japan to Australia, that
Source: GMB / The Standard (HK)
