The downturn has cut into profits at U.
Wynn's exasperation was on behalf of Melco, which said earlier this year it was hoping for at least tables in order to avoid defaulting on its. Mainland Chinese high rollers are staying away amid a persistent economic slowdown and President Xi Jinping's continuing crackdown on corruption, both of which are crimping lavish spending.
The decision underlines its strategy of targeting China's rising middle class consumers, who are expected to take over as the main driver of Macau's growth. Now, the special Chinese region finds the odds have quickly turned against it. Tong said wealthy mainland Chinese high rollers feel they've been to Macau "too many times" and are now eyeing other emerging Asian gambling destinations such as Vietnam, Cambodia, the Philippines, South Korea and Vladivostok in Russia's Far East.
It's part of a wave of big-budget projects opening over the next two years.
But Wynn said that transition is threatened if casinos can't accommodate enough gamblers to fund it. Macau, an hour by ferry from Hong Kong, is the only place in China where casinos are legal.
The casino strip in Macau has revenues roughly seven times its counterpart in Las Vegas. They were conceived at a time when a seemingly endless wave of money from wealthy mainland Chinese gamblers was flooding into the former Portuguese colony, turning it into the world's biggest gambling market.
Both Sands and Wynn said their most recent quarterly profit dropped sharply, burdened by their Macau businesses. The companies lend gamblers money in VIP rooms and collect debts when they return home, allowing high-rollers to get around restrictions on how much money can be taken outside mainland China.
After it was granted only last week, the Hong Kong-Australian joint venture said it would be forced to renegotiate the loan terms. CEO Steve Wynn also lashed out at the Macau government's policy of reining in rampant casino growth by capping the annual rpr casino sinaia 2015 in gambling table numbers by 3 percent.
They don't want to be seen on the radar screen," said Tony Tong, founder of Pacific Financial Services, a consulting firm that advises Asian casinos and junket companies. It has about three dozen casinos that rake in about seven times more revenue than the Las Vegas Strip.
Macau's upcoming resorts will emphasize entertainment and shopping over gambling as casino operators bow to authorities' desire to shed the city's rpr casino sinaia 2015 as a sleazy, vice-ridden gambling haven to become a family friendly global tourist destination.
This karat gold bike sold for 7, — here's how it was made More: Wynn said VIP players were wagering half the amount they did a year ago. She wore a pair of blue jeans and a white T-shirt.
The movie-themed resort features a Batman flight simulator ride, a figure-8 Ferris wheel and Art Deco architecture evoking Hollywood's early days. One junket operator, Neptune Group Ltd.
Adding to the industry's troubles, another junket company, Dore Entertainment, reported to police last month that an employee allegedly defrauded at least. China's economy "will no longer be the same dominant force to keep high roller clients in abundant supply" for Macau's casinos, the company said in its annual report. Casino floors have been noticeably quieter this year in Macau, where gambling revenues have fallen for an unprecedented 16 months straight.
Melco Co-Chairman Lawrence Ho said all of the new casino's gambling tables will be given over to so-called mass market players, with none for high-roller VIPs.