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More Tough Times Ahead for Land Casinos

Land casinos all over the world have reported some very tough times over the past several months as the global economy slows even further. The US has gone into a recession and the other major markets are not very far behind. And while ever sector of the gambling industry has announced some issues and problems, from the online casino gambling industry to land gambling venues – it is the land gambling industry that has really been hit the hardest by the down-turning economy. Macau’s land gambling market is actually performing dismally and the decline in year-on-year percentages for revenue and numbers of gamblers visiting the island is a growing concern.

When the economy first started to turn south many analysts in both the land and online casino gambling industry observed that gambling is often the last industry hit my a tough economic climate. As the situation worsened though and gamblers all over the world tightened their leisure spending, vacations to destination gambling venues like Macau were one of the fist places to see a sharp decline in revenues. The latest update out of Macau indicates that casino revenues are down for a third month in a row – new promotions and special incentives are not bringing in more gamblers.

Macau has experienced extreme growth over the past several years – booming growth in fact. But coupled with the slowing economy, Macau has also had to contend with restrictions out of Beijing – these have also slowed the flow of new gamblers to the island casinos.