Macau gambling revenues hit by china graft campaign

Casino executives in Macau are confident that the slowdown of recent years is behind them amid a broad recovery in luxury goods demand in China. Macau is the world's largest gambling centre but revenues have declined sharply since 2014, when China's corruption crackdown first began to hit the enclave, according to the Financial Times.

MACAU, Oct 6 (Reuters) - Gambling revenue in the world's biggest gaming hub Macau recorded their steepest drop in more than five years in September as China's campaign against corruption and a slowing economy kept big-spending customers away. Revenues of Macau's 35 casinos fell 11.7 percent to 25.6 ... Macau casinos suffer worst year amid anti-graft push Macau is the only part of China where casino gambling is legal, and the industry is dependent on big spenders from the mainland. But high-rollers have been reined in by the anti-graft drive, which has seen Xi vow to crack down on high-ranking officials -- described as "tigers" -- along with low-level "flies", in a campaign which includes ... Macao's gambling revenue growth best in 20 months Macao on Tuesday posted its best monthly gambling revenue performance since October last year and the smallest drop in growth in 20 months as an increase in Lunar New Year tourists boosted the world's largest casino hub.Macao's economy, which relies on the casino industry for over 80 per cent of government revenues, has been hit by a decline in big-spending VIP gamblers as an anti-corruption ...

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Feb 27, 2018 ... Macau saw a quick and dramatic drop in gross gaming revenue as a result ... first to be hit in cases of serious economic shocks, the anti-graft campaign of ... just how heavy its reliance on wealthy Chinese casino players was. Sands China Looks Beyond Macau's High Rollers | Institutional Investor

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1 Sep 2015 ... Why Macau's real economy is yet to be hit by a massive slump in nominal ... anti- corruption campaign has caused gaming revenues to decline by ... will eventually feel a pinch, especially if China's anti-graft campaign rolls on. The Truth Behind Macau's Luxury Market | Global Currents, Market ... 14 Jul 2015 ... With gambling revenues that dwarf those of Las Vegas and non-stop ... The Wynn Macau casino resort in Macau, China | Source: Shutterstock ... else something for wives to idle away their time with while their husbands hit the tables. .... As a result of the lingering effects of China's anti-graft campaign — and ... Annual Economic report: Macao 2017 - SinOptic 14 Jun 2018 ... Typhoon Hato hit Macao in August 2017, killing 10 people and injuring over ... Mainland China such as anti-graft measures, control on capital ... sharp fall in the high-end or “VIP” casino business and an anti-corruption campaign in China. ... and 60% of gross gaming revenue in 2013 and 2014 respectively. Five industries that stand to lose from Beijing's anti-corruption crackdown

Macau’s casino industry is being hit by a slump in VIP gaming as President Xi Jinping’s campaign on graft snared thousands of officials and is expanding to include executives at state-owned ...

Beijing Spies on Chinese Officials Gambling in Macau, Says ... In late 2014 the anti-graft campaign intensified in Macau as Beijing ... Spearheaded ‘Corruption Crackdown,’ Hit Macau Casino Sector Hard ... Seminoles End $350 Million Annual Casino Revenue ... Macau gambling revenue rises 14% as anti-corruption drive fades ...