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RPT-Macau gambling revenue declines for third consecutive month
September 1, 2014 / 5:36 AM / 3 years ago

RPT-Macau gambling revenue declines for third consecutive month

(Repeats to chain story to earlier alert, no change to text)

MACAU, Sept 1 (Reuters) - Gambling revenue in the world’s biggest gaming hub Macau fell 6.1 percent in August on an annual basis, the third consecutive monthly decline this year as a stepped up campaign against corruption and falling housing prices in China sapped demand from high-rolling VIP customers.

Gambling revenue from Macau’s 35 casinos fell to 28.9 billion patacas in August ($3.6 billion) from 30.7 billion patacas a year earlier according to data released by the Macau government on Monday. Analysts were expecting a decline of 2-6 percent.

The southern Chinese territory of Macau, a special administrative region like neighbouring Hong Kong, is the only place in the country where casino gambling is legal. Gambling revenues have been turbo charged for the past two years, raking in $45 billion last year. In the past three months however, growth has plummeted to lows not seen since 2009.

$1 = 7.9860 Macau patacas Reporting by Farah Master; Editing by Matt Driskill

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