Once largely focused on gambling and gambling alone, Macau is slowly but surely beginning to take a page out of the Las Vegas playbook in an effort to make the region more diverse and less dependent on gaming only.<\/p>\n
The Las Vegas Sands-owned Sands Macao, Venetian Macao, and Sands Cotai accounted for 57 percent of the company\u2019s 2015 revenues. CEO Sheldon Adelson’s fourth Macau property, the Parisian Macao, will feature a half-scale Eiffel Tower when the new resort opens later this year.<\/p>\n
Adelson’s billionaire colleague Steve Wynn is also heavily invested in the area. In addition to Wynn Macau and Encore at Wynn Macau, the Wynn Palace is scheduled to open next month. The new venue will try to entice tourists with its air-conditioned SkyCab, a cable car ride that traverses an eight-acre “Performance Lake.”<\/p>\n
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Though VIPs still represent a critical component of Macau casino revenues, junkets are also rethinking their marketing strategies and beginning to venture away from only catering to the ultra wealthy, in favor of a more middle class tourist-centric audience.<\/p>\n<\/div>\n
Bloomberg\u2019s Craighead theorizes that the government’s suppression on junkets could actually be beneficial to Macau in the long run. He believes forcing operators and casinos to gear their efforts toward a more widespread base will lay the foundation for a “sustainable mass-market business” model, much as it has in Las Vegas, where the strategy has been instrumental in the city\u2019s post-recession bounce back.<\/p>\n","protected":false},"excerpt":{"rendered":"
Macau casinos have now seen their revenues drop for the 23rd straight month, as the special administrative region in China continues to struggle to find ways to offset disappearing income from VIP junket operators being forced out by government policies. The Asian gambling epicenter, Macau generated just 17.3 billion patacas ($2.2 billion) in April, a […]<\/p>\n","protected":false},"author":42,"featured_media":35574,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,10,18],"tags":[],"acf":[],"yoast_head":"\n
Macau Casinos April Revenues Drop 9.5 Percent for 23rd Red Month<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n