The casinos in Macau, the only place in China where gambling is legal, are struggling. According to Cardplayer, the gambling mecca, which has 35 casinos owned by 6 operators, has seen an increased drop in revenue for 10 months in a row.
The revenue in, for example, February and March this year went down 49 and 39 percent compared to the same two months in 2014. 2015's revenue is expected to be th[...] Read more » Macau Casino Revenues Keep On Dropping
Joined: Mar '12
Location: United Kingdom
Age: 45 (F)
Posts: 2261
I saw a similar report to this a couple of weeks ago,it seems strange that with all the new Chinese millionaires and many billionaires that,of all things, gambling is starting to decline.The same is happening in Vegas and Atlantic City is doing really badly.I think all gambling and especially poker has reached its limit now and the changes in many countries tax laws seems to be having a negative effect as well.
Joined: Jan '12
Location: Portugal
Age: 32 (M)
Posts: 405
Is a reality, that from here futher we will see more, because the taxs laws in some countrys, and because, like the klash said the market is reach is top, we see months after months tournaments with huge buy.ins like 1 million, 500k and thing like that, is good for a while, but after a few times and few months that players that put their money in that tournaments they will not have money to compete in the same levels for long time. In this time make changes and make thing diferent, maybe is a good idea for the save of the gambling/game.
Joined: Mar '09
Location: Portugal
Age: 57 (M)
Posts: 1703
Hello my friends
I agree with both of you the casino business as those kind of swings the prizes reach to sky high and now they are dropping it´s only natural they could not keep on growing as fast as they were because because the market has reached the top
You must take also in consideration that the chinese economy is still growing but not at the % that was on past years
Joined: Jun '13
Location: Canada
Age: 80 (M)
Posts: 3700
Macau is not different than all the other countries where gambling business is going down. Even here our province lottery company revenue are going dow every years. And in this kind of situation PokerStars is talking of doubling his in the next five years. There are peoples that are seeing think very differently.
Joined: May '08
Location: Germany
Age: 59 (M)
Posts: 6786
When most of their business comes from the very rich people, the casino cities have a real problem. Those guys no longer need to travel to a casino. They can just go to the stock market. Its like a casino, but with much higher table limits.
Joined: May '08
Location: Lithuania
Age: 39 (M)
Posts: 10090
exactly what shokaku is saying- when most of the profit depends on high rollers you have trouble embedded in the system. those dudes can travel from place to place and have no reason to stay attached to one city. it's the masses (especially brainwashed masses) that should be your main customers if you want to build a long term business.
Yeah, but think about just how uninteresting watching your Apple or Coca-Cola stocks dropping 8 cents a dollar when you could've bang this money away on baccarat with Phil Ivey. These things are cyclical.
When I bet like Phil Ivey does I'm risking years worth of salary of mine. Either I become a millionare by this way or it will make me kill myself at the end. Neither gonna happen in the near future.
Joined: Feb '14
Location: Tunisia
Age: 35 (M)
Posts: 2135
only place in china where gambling is legal it should mean that the place is filled with people but the Chinese government is really strict so i guess for those high-rollers underground casinos/games is better than playing in the light where the government can keep an eye on you and how much you make china is filled with millionaires who loves to gamble but like i said no one want to play legal nowadays and the online poker is taking over
The difference Skp is that those underground places are run by the triads so they give nice kickbacks to local goverment officials to avoid raids, and Macau is run by corporations who avoid taxes by being licensed in some tax paradise micro country. Which one of these two is really legal?
Joined: Jun '12
Location: Argentina
Age: 56 (M)
Posts: 168
In all countries there are restrictions on the game and the government gets a large part of what they earn players The politicians steal and make up laws to keep stealing Game profits should be tax-free to invest it in cars, homes, travel and whores
