Macau looks set to record its biggest ever monthly decline in gross gambling revenue if analysts’ projections turn out to be correct.
Gross gambling revenue is expected to have fallen between 20 per cent to 23 per cent in the fifth straight monthly decline. October is usually one of the busiest months of the year for the territory as it coincides with the national Chinese Golden Week holiday.
However, the year-on-year drop also comes against high comparisons, with the same month in 2013 recording the highest revenue of the year China’s crackdown on corruption has deterred the country’s high rollers from overt displays of extravagance, while the mainland economy is also slowing.
Figures released yesterday showed no sign of improvement, with growth in the services sector falling to a nine-month low and the housing market continuing to contract.
