For a long while now, I have had several discussions with Las Vegas Gaming executives, some still employed and others retired, about how China is treating the current casino owners in the gaming hot spot known as Macau.
I believe that China (recently) closed their borders to Macau in an effort to force the casinos owners out of business.
Of course, their standard PR line is/was: ...to stop corruption.
But, I think that China saw just how much money the casino owners were actually making and decided that they should be in charge of the properties -- thus, they would be raking in the billions that China's citizens were gambling away every month in order to become rich so that they could improve their lives.
Now, I have absolutely no proof of this at all. It is just a gut feeling I get from reading various news reported stories about the Macau enclave.
The latest is this article from re-known gaming reporter Howard Stutz of the Las Vegas Review Journal. (You may have to copy and past in your browser to read.)
http://www.reviewjournal.com/business/casinos-gaming/macau-casino-revenue-falls-214-percent-january-20th-straight-monthly-decline
In his article, Howard outlines that Macau revenue has fallen for 20 straight months; and, it fell 21.4% this recent January, 2016.
To me, the fact that it is only down in the hundreds of millions, is not as bad as the fact that the casinos are still earning Billions in US dollars per month.
I believe that that amount of money being earned there by Las Vegas casino operators is too tempting to the Chinese officials to allow to be continued to leave their country. Thus, I believe that China will in the foreseeable future take over the properties as a means to control how their citizens are spending their hard earned money.
If I am wrong, I will apologize right here, right now. But, my gut says otherwise.
Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes
I believe that China (recently) closed their borders to Macau in an effort to force the casinos owners out of business.
Of course, their standard PR line is/was: ...to stop corruption.
But, I think that China saw just how much money the casino owners were actually making and decided that they should be in charge of the properties -- thus, they would be raking in the billions that China's citizens were gambling away every month in order to become rich so that they could improve their lives.
Now, I have absolutely no proof of this at all. It is just a gut feeling I get from reading various news reported stories about the Macau enclave.
The latest is this article from re-known gaming reporter Howard Stutz of the Las Vegas Review Journal. (You may have to copy and past in your browser to read.)
http://www.reviewjournal.com/business/casinos-gaming/macau-casino-revenue-falls-214-percent-january-20th-straight-monthly-decline
In his article, Howard outlines that Macau revenue has fallen for 20 straight months; and, it fell 21.4% this recent January, 2016.
To me, the fact that it is only down in the hundreds of millions, is not as bad as the fact that the casinos are still earning Billions in US dollars per month.
I believe that that amount of money being earned there by Las Vegas casino operators is too tempting to the Chinese officials to allow to be continued to leave their country. Thus, I believe that China will in the foreseeable future take over the properties as a means to control how their citizens are spending their hard earned money.
If I am wrong, I will apologize right here, right now. But, my gut says otherwise.
Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.