Macanese gambling revenue has suffered a three-month drop due to an ongoing government crackdown against corruption and extravagance.
"Since the scrutiny has intensified, gamblers are instead spending time away from Macau," said Praveen Choudhary, an analyst at Morgan Stanley in Hong Kong. "Rich and famous gamblers are lying low and junkets have turned cautious in extending credit to worthy people."
As a result of this ongoing government-led campaign, gambling revenue on the Las Vegas Strip from the start of the year to the end of July has increased by 3.7 per cent, which means a total increase of USD3.7 billion. This includes a 14.4 per cent increase in revenue from baccarat, the most popular game amongst China’s gamblers.
Casinos in Melbourne and Manila are also experience a large increase in Chinese high rollers coming to splash their cash as a result of the Macanese crackdown.
Despite this recent shift in Chinese gamers choosing to play overseas, Macau still remains the world’s biggest gambling hub, bringing in a total of MOP360 billion (RMB277 billion) in casino revenue during 2013, seven times the revenue of the Las Vegas Strip. However depending on how long the ongoing anti-corruption campaign goes on for, the global demographics of China’s risk taking big spenders may experience even further change.
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