China’s Ecomonic Slowdown Curbs Macau Gambling Revenue
October 4, 2012 by Trey Thoelcke
Macau gambling revenue came in short of expectations. Macau has become the Mecca of gaming firms as activity has slowed, particularly in places like Las Vegas and Atlantic City. Macau’s government said revenue rose 12.3% in September to $2.99 billion. The would seem satisfactory, but it lags past results and current expectations. Reuters reports:
Analysts had forecast September growth in the tiny enclave on China’s southern coast, to be up 15-17 percent, ahead of a national holiday week starting on October 1.
The Chinese economy’s slowdown and increased political scrutiny due to an impending leadership change have taken their toll on the mainland’s big-spending billionaire punters, pushing Macau’s gambling revenue growth levels down substantially over the past five months.
Douglas A. McIntyre
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.