Land Casinos in Macao are losing their players to new online casinos. The once called “Las Vegas of Asia” is now dropping for the first time in the first trimester of 2019.
The total number of gambling places in Macao closed April with profits of around 23,588 million of Macanese pataca, the equivalent of 2605 millions of euros, or close to 3 billion dollars.
Even tho this numbers are astonishing, they are 8% less than the numbers they generated in the first three months of 2018. If you do the math, they are losing around 250 millions every three months, or close to 1 billion yearly.
Please remember that after losing the dependency from Portugal, Macao turned into a gambling Meca attracting more gamblers than Las Vegas in the United States.
As it is the only place to legally gamble in the Asian continent, it attracts millions of gamblers daily, specially from places like China, the Arab Emirates, Thailand, Indonesia and Japan.
This last Wednesday, the Gaming Inspection and Coordination of Macau uploaded a report on their official wesbite with the shocking new data.
Experts claim that land casinos are losing their share of markets to the online casinos that keep emerging a the speed of light.
Macao, the world capital of casinos, has currently six operators that own the entire gambling industry: Macao gaming society; Galaxy Casinos, Venetian ( which is very famous in the sister city in Nevada), Melco Resorts, Wynn and MGM. Most of them are American brands that invested in the Chinese independent land to attract more asian gamblers that used to visit their facilities in Las Vegas.
Even tho with this bad numbers, this casino resorts are still making huge profits. In the same report updated this week, it is also reported that those six casinos made profits of around 32800 million euros (or almost 33 billion dollars) just in 2018!
There are still no legal online casinos in Asia, but as this numbers keep lowering, we can expect some new gambling laws to fix that issue. The CEO’s of the six brands listed above are already in contact with the government so they can also deliver an online version of their brands and keep the gamblers from moving away from alternatives.
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