Macau’s casino revenues declined for the sixth straight month, as Chinese officials continue to discourage gambling by high rollers.
Casino revenue fell 19.6 percent to $3.04 billion in November, according to Macau’s Gaming Inspection and Coordination Bureau.
Bloomberg News reported the previous longest losing streak was seven months between 2008 and 2009 as the global recession took hold. Las Vegas Sands Corp., Wynn Resorts Ltd., and MGM Resorts International all operate casinos in Macau and have reported weaker earnings as the slowing Chinese economy have cut into their earnings.
Grant Govertsen, an analyst with Union Gaming Group Macau, said November gaming revenues came in a little below our baseline and we would expect December to roughly similar.
“On a full year basis, this puts (revenues) on pace for a decline of 2 percent,” Govertsen said.
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