Macau gambling revenue drops 21.4% in January in 20th consecutive month of decline

View of a fountain before the Wynn Macau casino resort illuminated at night in Macau, China.
View of a fountain before the Wynn Macau casino resort illuminated at night in Macau, China.PHOTO: BLOOMBERG

HONG KONG (REUTERS) - Gambling revenues for the Chinese territory of Macau dropped 21.4 per cent in January, ahead of a Chinese New Year week-long holiday that is expected to boost the number of visitors to the world's largest casino hub.

Gambling revenue in the former Portuguese colony fell for the 20th consecutive month to 18.7 billion patacas (S$3.31 billion), government data showed on Monday (Feb 1), in line with analysts' expectations of an 18-26 per cent decline.

Macau, which relies on the casinos for revenue, has been battered by a two-year-old anti-corruption campaign and slowing growth in China's broader economy. Gambling revenues are hovering around five-year lows.