LAS VEGAS – ENTERTAINMENT – According to recent reports by Wells Fargo, the revenue generated by bricks and mortar casinos in Macau could fall by up-to 25% in December this year. This would represent a significant drop, and worryingly it is also part of an ongoing, global trend that is impacting on other gambling meccas from around the world. Even the great Las Vegas is unlikely to escape unharmed, as despite its status as the spiritual home of gambling it has already began to record dwindling returns across its leading casino locations.
In terms of bare statistics, baccarat winning alone fell by 36% in October the Vegas Strip, while overall casino revenue also tumbled by 5.6% to $520 million. This was according to data released by the Nevada Gaming Control Board, who are growing increasingly concerned at dwindling demand and the fall in high-end gaming. While this issue is apparent, however, the causes that have triggered the decline are less obvious and there is a clear need to understand these for the issue to be resolved.
The sheer extent of these figures immediately suggest that the primary issue lies with high-end gambling, with the Chinese gaming market having being impacted by government probes and widespread economic issues. This has been described by Vegas officials as a ‘global VIP problem’, and one that affects a small but select group that spend hundreds and thousands of pounds in bricks and mortar casinos on an annual basis. So while the popularity of gambling remains largely unchanged, revenues are falling in line with a declining rate of spending at the higher end of the market.
So while it may be tempting to attribute the fall in bricks and mortar casino revenues to the rise of virtual gaming and platforms such as www.top10ukonlinecasinos.co.uk, the truth is far simpler. This is also a trend that may pass over time, as new regulatory measures are introduced to the higher end of the market and economic worries continue to ease.