Macau casino revenues continue to fall
Gambling revenue in the Chinese territory of Macau fell 28.4 percent in October from the same period a year earlier, marking the 17th consecutive month of decline, as wealthy clients continued to stay away from China’s only legal casino hub.
VIP gamblers, which account for about half of revenue, have been staying away from Macau, deterred by a campaign by China’s central government against conspicuous spending by public officials, which in turn is part of a wider investigation into unauthorised outflows of money from the mainland.
Revenue fell to 20.06 billion patacas ($2.51 billion) from 28.03 billion patacas a year prior, but was higher than the 17.13 billion patacas of September, showed Macau government data.
The month of October included China’s National Day holiday and the opening of Melco Crown Entertainment’s $3.2 billion Studio City resort. The Wynn Cotai expects a delayed opening in June, instead of March.