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Macao's gaming revenues rebound in July

Xinhua, August 3, 2015 Adjust font size:

Macao's gross gaming revenues in July rebounded 7.2 percent from June to 18.61 billion patacas (2.3 billion U.S. dollars), figures from the industry regulator, the city's Gaming Inspection & Coordination Bureau, show Monday.

Macao has witnessed revenue decline for 14th consecutive month, with the gross earning down 34.5 percent this month from the previous year.

Macao's accumulated gross gaming revenue for the past seven months now stands at 140.26 billion patacas (17.56 billion U.S. dollars), a decrease of 36.7 percent compared with the same period one year earlier.

Macao's Chief Executive Chui Sai On last week said that if the tally for July failed to reach 18 billion patacas (2.25 billion U. S. dollars), he would consider to roll out austerity measures to control the spending of government entities.

July's performance in gaming industry was not too bad to implement the austerity for the present, city's Secretary for Economy and Finance Leong Vai Tac said.

The city would pay close attention to the unstable factors underlying the industry, and launch austerity plan in due if the average monthly gaming revenue collecting from casinos drops to below the "red line" of 20 billion patacas (2.50 billion U.S. dollars), he added. Endi