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Macau casinos hit worst streak ever as graft fight intensifies

Total gross gaming revenue in world's biggest gambling hub falls 17.4% to 23.7b patacas last month

Published Mon, Feb 2, 2015 · 09:50 PM
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Singapore

MACAU'S casino revenue slumped an eighth straight month in January for the longest losing streak on record, and there are growing expectations the pain will persist another year as China's clampdown on graft intensifies.

Total gross gaming revenue in the world's biggest gambling hub fell 17.4 per cent to 23.7 billion patacas (S$4 billion) last month, Macau's Gaming Inspection and Coordination Bureau said on Monday. This compared with the median estimate of a 17 per cent decline from seven analysts surveyed by Bloomberg News.

Chinese President Xi Jinping's anti-corruption drive to catch "tigers and flies" and slowing economic growth means Macau may continue to face shrinking monthly revenue until later this year, when new resorts including from Melco Crown Entertainment Ltd and Galaxy Entertainment …

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