The month’s results shows a disheartening 16.3 percent fall in gambling revenue in the Asian gambling hub.
Macau.- March’s figures were released and the city continues its decay as after a two-year continue decline, gambling revenue dropped 16.3 percent.
Macau’s fall started as a result of a decision from the Beijing government, which set up a campaign against conspicuous spending by public officials. Then economic growth slowed down in the mainland, where most of Macau’s gamblers come from, leading to the current situation.
The special administrative city located on China’s southern coast relays on gambling revenue and its economy has been hit hard by this decline as revenue has hit five-year lows or a continue decline for the 22nd consecutive month.
According to numbers released by the government today (Friday) gambling revenue fell in March to 18 billion patacas (US$2.25 billion.) This is consistent with the prediction of Thompson Reuters analysts who predicted a decline between 13 to 15 percent.