Tag: Macau gaming crackdown
Macau Gaming Crackdown Drives Bettors To Las Vegas
August 15, 2014
Analysts have been warning for months about the Macau gaming crackdown and a summer slowdown in VIP gaming after officials arrested several local lenders on charges of illegal money laundering. MGM Resorts International, Sands, Wynn Resorts and others with casinos in Macau have been impacted by weakness there. Naturally, revenue for Las Vegas Sands and other Macau-centric casinos collectively fell 3.6% in July to $3.5 billion, Macau officials said recently, led by a slide in high-roller VIP segment gaming. Telsey Advisory Group analyst Chris Jones said Monday that the mass market segment in Macau — tourists and casual middle-class visitors…