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Macau gambling revenue tumbles for second year in row

Friday, January 1, 2016 - 14:09
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Gambling revenue in the Chinese territory of Macau fell for the second year in a row in 2015 as a prolonged anti-corruption campaign and slowing economic growth battered the world's largest casino hub.

[HONG KONG] Gambling revenue in the Chinese territory of Macau fell for the second year in a row in 2015 as a prolonged anti-corruption campaign and slowing economic growth battered the world's largest casino hub.

Gambling revenue fell 34.3 per cent to 230.84 billion patacas (S$41 billion) last year, government data showed on Friday.

December revenue dropped 21.2 per cent from a year earlier to 18.3 billion patacas, the 19 straight month of declines.

Analysts were expecting a drop of about 35 per cent for the full year.

Only two years ago, China's only legal casino hub was booming, with gaming revenues more than seven times those in Las Vegas and shares in the Hong Kong-listed gaming companies tripling in value.

REUTERS