In the first 16 weeks of the fiscal year, Rank Group posted a 4.9% revenue decline due to a drop in sales and traffic at its casinos and bingo venues.
Investors’ fear over the trade war between China and the US have caused Macau’s major casinos’ stock prices to drop by 40% since June.
According to the IMF, the Chinese territory’s GDP will slow sharply in 2018 and remain flat during next year.
The shares of the company decreased by almost 5% after the country announced its plans to double the betting tax.
The Ministry of Planning and Finance is looking to boost lottery revenue through a State Lottery expansion.