https://www.abouttanzanitejewelry.com/news/macau-gambling-still-struggling-amidst-crackdowns-and-downturns/ Latest Casino and Gaming News Thu, 12 Jan 2023 17:39:44 +0000 hourly 1 https://wordpress.org/?v=6.4.5 https://www.abouttanzanitejewelry.com/news/macau-gambling-still-struggling-amidst-crackdowns-and-downturns/#comment-1676 Sun, 30 Aug 2015 20:37:00 +0000 https://www.abouttanzanitejewelry.com/news/?p=30872#comment-1676 Like Atlantic City, that has seen a 50% decline in casino revenues, Macau
also needs to find new reasons to attract mainline Chinese visitors, as the VIP play
had been decimated by Beijing. And the quickest way to produce new profits,
could be to follow Sheldon Adelson’s successes in promoting the convention trades,
or in Asian jargon, the MICE business. Las Vegas once depended on casino win for
the great majority of property earnings, but now Strip casino win has declined from
over 70% to the mid 30% range. And LV Sands earns substantially from room sales,
profitable functions, exhibit and meeting space rentals, retail leases, and converting
gourmet restaurant comps to paying customers.
Genting, in Singapore, has also found a profitable way to attract casino players
combined with family theme park attractions. But neither MICE business nor the
casino/family resort will bring back the enormous win generated by casino junkets.
The good news is that once the casino resort pay the 39% tax on win and split the
remaining with the junket operators, there wasn’t a lot left for net earnings. But earnings
have been hurt, so I expect any new developments will be much more reluctant to
invest $billions in their projects.

]]> https://www.abouttanzanitejewelry.com/news/macau-gambling-still-struggling-amidst-crackdowns-and-downturns/#comment-1675 Sun, 30 Aug 2015 19:04:00 +0000 https://www.abouttanzanitejewelry.com/news/?p=30872#comment-1675 Whilst Lawrence Ho’s comment is quite right regarding Non-gaming , We should also remember that right now the headline for Vegas as it always has been is that ”Vegas is Fun” Macau’s headline has been from day one ” Macau is for Gambling” There well may be middle ground in the fact that Gaming should be exciting and more over an experience which is the first rule I learnt when I joined the industry over 30 years ago !

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