• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Macau GDP slides 26 pct in 2Q on gaming slowdown

Aug 31, 2015 Newsdesk Latest News, Macau, Top of the deck  


Macau GDP slides 26 pct in 2Q on gaming slowdown

Macau’s gross domestic product (GDP) shrank by 26.4 percent year-on-year in real terms for the three months to June 30, said the city’s Statistics and Census Service on Monday. The decline in GDP accelerated from the 24.5-percent year-on-year drop seen in the first quarter of 2015, as the city’s gross gaming revenue (GGR) continues to slide.

The statistics bureau said the local economy’s contraction was mainly due to a decline in exports of services. Gaming services in Macau are included in exports when calculating the city’s GDP. That is in order to reflect expenditure by tourists in the city’s casinos.

In the April to June period, exports of gaming services tumbled by 40.5 percent year-on-year, while exports of other tourism services dropped by 21.5 percent from the prior-year period.

Macau’s second quarter fall in GDP from a year earlier is the deepest on record since quarterly numbers were first issued, with effect from 2002, according to official data. The decline took Macau’s GDP to about MOP77.5 billion (US$9.7 billion) at constant prices, making it the weakest quarter since the first three months of 2011.

Casino GGR contracted 37.4 percent year-on-year in the second quarter of 2015. Macau’s VIP baccarat GGR fell 42.2 percent year-on-year in the three months to June 30, while mass-market revenue – including slots and electronic table games – fell by 30.2 percent.

The city’s casino GGR monthly tally has fallen for 14 consecutive months, judged year-on-year, since June last year.

Macau’s GDP growth for the whole of 2014 was nearly flat, contracting by 0.4 percent in real terms, official data showed.

In the first six months of 2015, Macau’s economy contracted by 25.4 percent year-on-year in real terms, according to Monday’s data.

The local economy “was affected by multiple unfavourable factors in the first half year; sluggish external demand dragged down exports of tourism and gaming services,” said the statistics bureau. It added: “Domestic demand remained stable; total investment rose by 15.8 percent while private consumption expenditure and government final consumption expenditure maintained stable growth, reducing the magnitude of economic slowdown.”

In July, the city’s Monetary Authority of Macao said Macau’s real GDP might contract “mid-teens” for the whole of 2015. In its latest monetary and financial stability review, the monetary authority cited the “deterioration in gaming revenue” as a factor.

Contraction in GDP “could slow to low teens in the second half, depending on the gaming performance,” it stated.


  • tweet
Related articles
  • SJM posts US$390mln 2020 loss, Cotai scheme in 1H
    SJM posts US$390mln 2020 loss, Cotai...

    Feb 23, 2021  

  • Macau casino GGR soared in final days of CNY: brokerages
    Macau casino GGR soared in final days...

    Feb 23, 2021  

More news
  • Macau VIP challenged by changes in China: Galaxy Ent boss
    Macau VIP challenged by changes in...

    Feb 25, 2021  

  • Ainsworth US$40mln half-year loss on impairment charge
    Ainsworth US$40mln half-year loss on...

    Feb 25, 2021  


Latest News

Macau VIP challenged by changes in China: Galaxy Ent boss

Macau VIP challenged by changes in China: Galaxy Ent boss

Feb 25, 2021  

Macau casino operator Galaxy Entertainment Group Ltd plans to stengthen its focus on the mass and premium mass segments of the gaming market, as the city’s VIP sector is likely to be challenged by...
Read More
Ainsworth US$40mln half-year loss on impairment charge

Ainsworth US$40mln half-year loss on impairment charge

Feb 25, 2021  

Galaxy Ent 4Q EBITDA up 207pct sequentially: firm

Galaxy Ent 4Q EBITDA up 207pct sequentially: firm

Feb 25, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day


US$129.0 million

Adjusted EBITDA reported by Macau casino operator Galaxy Entertainment for the fourth quarter of 2020



Most Popular

  • Macau casino GGR soared in final days of CNY: brokeragesMacau casino GGR soared in final days of CNY: brokerages February 23, 2021
  • Pansy Ho sells off more stock in MGM Resorts for US$36mlnPansy Ho sells off more stock in MGM Resorts for US$36mln February 23, 2021
  • Macau removes last mainland cities from its quarantine listMacau removes last mainland cities from its quarantine list February 23, 2021
  • GEG in US$1.6bln construction deal on Galaxy Macau Phase 4GEG in US$1.6bln construction deal on Galaxy Macau Phase 4 February 22, 2021
  • Caesars out of Korea, ex-partner R&F asks 3yr delayCaesars out of Korea, ex-partner R&F asks 3yr delay February 19, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us