Macau’s once golden gaming industry suffered its first annual revenue decline last year as Chinese authorities cracked down on corruption.
Total revenue in 2014 fell by 2.6%, according to official data released yesterday, the first ever fall and the lowest monthly figure since 2011.
Macau is the only part of China where casinos are legal, which has allowed operators such as MGM, Sands and Wynn to rake billions from Chinese punters since foreign operators where permitted into the market a decade ago.
The decline, which is predicted to last until the second-half of 2015, is believed to be caused by a tightening of spending by the super-rich caused by Beijing’s recent anti-corruption drive.
FT Weekend, 10
