The 2008-09 global financial crisis showed what can happen to the gaming industry when the economy sours. The main reasons for the hesitation are the sheer size of the market – last year’s revenue was equivalent to seven Las Vegas Strips – and decelerating economic growth in mainland China.īut there are other issues causing disquiet, including the potential for new restrictions on mainland Chinese gamblers travelling to Macau, which has its own borders, and burgeoning competition in the region. Wynn Macau and Melco International are both trading at record low price-to-earnings ratios. Macau gaming stocks have slumped as that slowdown has become evident, with Sands China down around 30 per cent since April – falling 11 per cent in the past month alone – and MGM China down 02 since May. That is a far cry from the blistering pace of expansion that fuelled a seven-fold increase in gross gaming revenue between 2004, the year the first foreign-owned casino opened in the city, and 2011, when casinos made $34billion in revenue. Total gaming revenue rose 12 per cent in June from a year ago, following paltry 7 per cent growth in May. Yet both are raising their stakes in Macau just as the market is losing steam. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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