Date
21 September 2017
China's anti-graft and austerity campaign has affected casino revenues in Macau. Photo: Bloomberg
China's anti-graft and austerity campaign has affected casino revenues in Macau. Photo: Bloomberg

Macau gaming revenue plunges as high-rollers cut back

Macau’s casino revenue fell almost 20 percent last month from a year earlier, setting the territory on course for its full-year decline in such revenue in at least twelve years, as Beijing’s anti-corruption and austerity campaign kept mainland high-rollers in check.

Gaming revenue in the former Portuguese enclave fell to 24.27 billion patacas (US$3.04 billion) in November from 30.18 billion patacas in the same month last year, official data showed Monday.

It marked the sixth month in a row that casino revenue fell in the city, which had previously enjoyed a five-year winning streak without even one down month, the Wall Street Journal noted.

Analysts were quoted as saying that the November slide makes it a near certainty that Macau this year will suffer its first calendar-year drop in gambling revenue, at least since 2002, which is as far back as public data go.

The November decline wiped out all gains made earlier in the year, and came amid a steep drop in the VIP segment revenue as China’s anti-graft campaign kept many high-rollers away.

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RC

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