Macau to Stay a Gambling Haven
17th March, 2009
The Las Vegas of China, Macau, has seen staggering growth over the last few years, with more and more Casinos being built by the likes of MGM Mirage, Wynn and many others.
However due to the economic state the area has seen revenue drop and developments halted. The Asian economy slowing with the world-wide recession has not helped the situation either.
Now though it seems analysts have greater faith in Macau’s current situation being temporary. Las Vegas-based consultancy Globalist, Jonathan Galaviz said, “Any disruption to economic growth will be temporary with Macau’s performance short-term expected to fluctuate along with the Asian economy.”
The city showed resilience in 2008 taking in a total of $13.5 billion despite revenue dipping sharply in the second half of the year, a 31% increase from 2007.
Galaviz also suggested, it has been the VIP gaming rooms that have been hit the hardest, with ‘high rollers’ being the focal point. He claimed the uncertain economic time has caused a halt to prudent businessmen.
By Rommon
