The tables turned earlier this year. The credit crunch coincided with new restrictions on Chinese tourists to Macao, the only part of China where gambling is legal. Visitor numbers were down 13 per cent between July and September. Gaming revenues, too, have tumbled. Although broadly flat on a year ago, gross revenues have fallen a third from the January peak to less than $900m in September. As casinos mushroomed across the enclave, competition escalated. Commission rates were jacked up and, just like banks, operators were overly keen to extend credit to players. Profit margins shrank.
命運確實會瞬息轉變。去年，澳門取代拉斯維加斯，成為全球最大的賭窩（以收入計）。富麗堂皇的賭場在成片的土地上開工建設，整塊領土上律動著風鉆的斷奏。如今寂靜重來。謝爾登?埃德森(Sheldon Adelson)的拉斯維加斯金沙集團(Las Vegas Sands)本周被迫停工，等待這家搏彩巨頭籌措更多的現金；其他項目也出奇地安靜下來。