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Macao's gaming revenues slump to record low since Nov. 2010

Xinhua, July 1, 2015 Adjust font size:

Macao's gaming industry collected 17. 35 billion patacas (2.17 billion U.S. dollars) from gamblers in June, recording the lowest monthly revenue since November 2010, according to the latest data released by Macao Gaming Inspection & Coordination Bureau Wednesday.

Figures showed that the gross gaming revenues of Macao dropped 36.2 percent compared with the same period one year earlier, which marked the 13th consecutive months of the year-on-year decline.

The decrease in July had eased for a fourth straight month since this February, when gaming revenue slumped 48.6 percent for the worst monthly drop on record, indicated by the bureau's data.

The total gaming revenues counted 121.64 billion patacas ( 15. 23 billion USD) during the first half of the year, fell 37.0 percent from 193.06 billion patacas (24.17 billion USD) the year before, the figure said.

The city would consider launching of austerity plan if the money getting from casinos keeps falling, leading the average monthly gaming revenue drop to below the "red line" of 20 billion patacas (2.50 billion USD), Macao's Secretary for Economy and Finance Lionel Leong Vai Tac said recently during an interview.

But he stressed that any spending cut would not reduce the invest in education, health care and social welfare. Endi