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Macao's gaming revenues down 37.1 percent in May

Xinhua, June 1, 2015 Adjust font size:

Macao's gross gaming revenues in May dropped 37.1 percent to 20.34 billion patacas (2.54 billion USD) compared to the same period in previous year, according to the latest figure released by Macao Gaming Inspection & Coordination Bureau Monday.

The gambling revenues suffer 12-month continuously year-on-year decline since last June, but the gross revenue in gaming industry saw a 1.79 billion patacas (224.1 million USD) rise from a month ago, and the range of year-on-year decrease narrowed 1.7 percent that of last month, said the official data.

The total gaming revenues counted 104.29 billion patacas (13.05 billion USD) during the first five months this year, dropping 37.1 percent from the same period a year ago, the figure said.

Affected by the downturn in adjusting stage of gaming industry, Macao's economy measured by the Gross Domestic Product shank 24.5 percent in the first quarter.

Macao has been trying to transit from gaming to a tourism and entertainment hub. Galaxy has launched its second stage resort attaching various business such as retail, restaurant, and entertainment elements to attract more customers outside gaming. Sands, Wynn, SJM Holdings are follow the suit to develop complex resorts so as to cater to the changing industry. Endi