-
Macau Gaming Plunges 36% as New Casinos Fail to Spark Visits
Macau’s casino malaise deepened in August, with gaming revenue falling a 15th straight month as the recent opening of new gambling resorts failed to rouse a return of mainland Chinese visitors over the popular school holiday season. Gross gaming revenue fell 35.5 percent to 18.6 billion patacas ($2.3 billion), widening from July’s 34.5 percent drop, data from Macau’s Gaming Inspection and Coordination Bureau showed. That compared with the median estimate of a 37.8 percent fall from seven analysts surveyed by Bloomberg. The casino downturn has dragged Macau’s GDP to its lowest since 2011 as an economic ... (full story)