Casino executives in Macau are preparing for tougher competition and heightened credit risk even as some say that the slump in revenues is “bottoming out”.
After years of rapid growth in the world’s biggest gambling centre, revenues started to fall sharply in 2014 as Macau felt a double blow from the economic slowdown in China and President Xi Jinping’s crackdown on corruption.
Gross gaming revenue in Macau fell 10 per cent in April to $2.2bn, compared with the same period a year earlier, the 24th consecutive month in which the casino takings have shrunk.
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