Macau’s Roulette Wheels Slow as China Economy Cools
(Bloomberg) — Monthly casino revenue in Macau fell for the first time in more than two years as China’s weakening economy kept high rollers away from the world’s largest gaming mecca.
Gross gaming revenue in Macau fell 5% in January to 24.9 billion patacas ($3.1 billion) from a year earlier, according to data from the Gaming Inspection & Coordination Bureau. The decline was not as steep as the median analyst estimate of a 9% drop. The Bloomberg Intelligence index of Macau gaming stocks rallied after the news with a gain of as much as 0.8% that reversed a decline at the opening in Hong Kong.
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