Apr
21
With Gaming in a Slump, Macau Resorts Branch Out
Posted in: Uncategorized
Their new pitch comes at a crucial moment. Amid China’s crackdown on corruption and ostentatious displays of wealth, gaming revenues fell 2.6% to $44 billion in 2014, the first-ever drop on record. February’s drop of 49%, during the Chinese New Year period, was dire.
China’s high-rollers are staying away, and more gamblers are heading to casinos in the Philippines, South Korea and elsewhere. Now that gambling has become risky business, Macau wants to rebrand — and fast.
“The battleground for 2015 and possibly beyond will be middle China,” as opposed to the high-rollers of the past, said Kevin Clayton, chief marketing officer of Galaxy Entertainment Group.
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