{"id":3969,"date":"2015-01-03T11:52:51","date_gmt":"2015-01-03T16:52:51","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3969"},"modified":"2015-01-03T11:52:51","modified_gmt":"2015-01-03T16:52:51","slug":"what-macau-just-said-about-chinas-economy-wolf-street","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3969","title":{"rendered":"What Macau Just Said About China\u2019s Economy | Wolf Street."},"content":{"rendered":"<p><a href=\"http:\/\/wolfstreet.com\/2015\/01\/03\/what-macau-just-said-about-chinas-economy\/\">What Macau Just Said About China\u2019s Economy | Wolf Street<\/a>.<\/p>\n<p>Few economic phenomena compare to the soaring gambling revenues in Macau since it opened up to foreign casino operators in 2001. In 2002, Macau blew past Las Vegas. It\u2019s the only place in China where the Chinese can go and legally gamble away their money, and it\u2019s one of the key places where they can go to siphon their wealth \u2013 however they\u2019d obtained it \u2013 out of Mainland China\u00a0and beyond the reach of the muscular arm of the government. Even during the financial-crisis years 2008 and 2009, Macau gaming revenues grew, despite a horrendous seven-month plunge. 2009 was the worst year on the books, with revenue growth of\u00a0<em>only<\/em>\u00a09.6%. The rest of the years, double-digit growth was the norm.<\/p>\n<p>During the first five months of 2014, revenues soared 15.8%. Nothing could\u00a0stop Macau, or so it seemed. But in June, Macau\u2019s world changed with the first year-over-year revenue decline since the financial crisis. The soccer World Cup was blamed. VIP revenues, which used to account for\u00a066% of total revenues, dropped\u00a0an estimated 20%, a hole that increased marketing to regular folks couldn\u2019t fill.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What Macau Just Said About China\u2019s Economy | Wolf Street. Few economic phenomena compare to the soaring gambling revenues in Macau since it opened up to foreign casino operators in 2001. In 2002, Macau blew past Las Vegas. It\u2019s the only place in China where the Chinese can go and legally gamble away their money, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,246,2373],"class_list":["post-3969","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-economy","tag-macau"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3969"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3969\/revisions"}],"predecessor-version":[{"id":3970,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3969\/revisions\/3970"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}