ZeroHedge – The Real Reason Macau’s Casinos Are Suddenly Empty – 3 January 2015

ZeroHedgeA trip to the high-roller tables in Macau or Las Vegas strip casinos over the holidays revealed an unexpected, eerie (and terrifying if one is a bondholder in said casino) sight: empty chairs as far as the eye can see. Indeed, as Bloomberg reports, “Macau’s casinos just recorded their worst year, ending a decade of expansion that turned the former Portuguese enclave into the world’s biggest gambling hub. More tough times are ahead. Casino revenue in the city fell 2.6 percent to 351.5 billion patacas ($44 billion) in 2014, after a record 30.4 percent monthly drop in December, according to figures from Macau’s Gaming Inspection and Coordination Bureau today. Analysts projected a 2 percent annual decline, based on the median of nine estimates in a Bloomberg News survey.”

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