China’s Ecomonic Slowdown Curbs Macau Gambling Revenue
Macau gambling revenue came in short of expectations. Macau has become the Mecca of gaming firms as activity has slowed, particularly in places like Las Vegas and Atlantic City. Macau’s government said revenue rose 12.3% in September to $2.99 billion.…
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Analysts had forecast September growth in the tiny enclave on China’s southern coast, to be up 15-17 percent, ahead of a national holiday week starting on October 1.
The Chinese economy’s slowdown and increased political scrutiny due to an impending leadership change have taken their toll on the mainland’s big-spending billionaire punters, pushing Macau’s gambling revenue growth levels down substantially over the past five months.
Douglas A. McIntyre
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Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.
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