July 1, 2018 / 7:17 AM / 2 months ago

Macau casinos post 12.5 percent gain in June revenues

HONG KONG - Gambling revenue in the Chinese territory of Macau grew 12.5 percent in June, thanks to solid demand from Chinese betters keen to play in the country’s only legal casino hub.

Gaming machines are seen at the casino of MGM Cotai in Macau, China February 13, 2018. REUTERS/Bobby Yip

June marks the 23rd month of consecutive revenue gains in the former Portuguese colony, after plunging to five-year lows due to slowing economic growth and a crackdown on corruption that began in 2014.

Official data showed revenues rose to 22.49 billion patacas ($2.78 billion) in June, though the gain undershot analysts’ expectations of 17-21 percent growth.

($1 = 8.0210 patacas)

Reporting by Anne Marie Roantree; Editing by Editing by Simon Cameron-Moore

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