Paradise chairman sees Macau downturn as “healthy correction” as market shifts focus

    Published in: Latest IntelligenceParadise Entertainment Chairman Jay Chun has said he’s optimistic about the future of gambling in Macau, though says the market is shifting and he expects the biggest percentage of revenue to come from gaming machines within the next five to 10 years. In an interview with AGB during the second Macao Gaming Show, Chun said he expects the Macau market to mature to become more like the U.S. “I’m still very positive on the mass market,” he said, though added the VIP situation is challenging. Gross gambling revenue in Macau has fallen in each of the past five months, with the 23.2 percent decline in October the worst on record. The fall has been lead by a steep drop in VIP revenue. In an earlier written interview, Chun spoke about the outlook for Macau and the Macao Gaming Show, as well as developments at Paradise and its LT Game unit....

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