Revenue generated by the three-dozen Macau casinos fell more than expected during March, plummeting 16.3 percent to $2.3 billion, according to figures from the Macau Gaming Inspection and Coordination Bureau.
The 2015 total for March revenue was off 49 percent from the same year earlier period, meaning analysts have to go back to 2013 to sign any sign of the good old days in the Macau gaming business.
This year’s March total was a bit worse than the median estimate of 15.5 percent drop from six analysts surveyed by Bloomberg. March was the 22 consecutive month of revenue declines for the Macau casino business.
Paulo Martins Chan, director of the Macau Bureau had predicted several days before the release of this year’s March total that the casino-based economy should show improvements in the rate of decline this year. The worse was in the past, he said.
In the meantime, there unofficial signs that Wynn Resorts may be delaying the opening of its $4 billion Wynn Palace on Macau’s Cotai Strip until late in the first half of 2016.
Phil Hevener has been writing about the Nevada gaming business for more than 30 years. Email: .