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May Gambling Revenues from Macau Missed Expectations

Stocks in the largest Macau casino companies, such as Wynn and MGM, fell on the news the revenue did not meet projections. The companies have not offered reasons for the downturn as yet, but the loss of high rollers may be the reason the casinos did not meet expectations. The Macau casinos are currently the only legal casinos in China, perhaps partly because Macau is seen as a separate entity from China. Like Hong Kong, it has operated as an autonomous region since 1999. Gambling in Macau has been legal for more than 150 years when the area was under the control of the Portuguese government. For decades, people have seen Macau as a gambling and tourist destination. Interestingly, the largest http://jackpotsb2r.justaboutblogs.com percentage of visitors to Macau are mainland China residents, as well as people from Hong Kong. Until the 20th century, gambling was restricted to Chinese games, such as Fan-Tan. However, Western games began to be played in the 20th century so Macau could continue to compete with casinos in the United States and Australia.

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