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HONG KONG (-) – Gambling income within the Chinese territory of Macau hit a five-month excessive in May, though softer demand from excessive rollers amid a slowdown on this planet’s No.2 economic system and a Sino-U.S. commerce battle continued to maintain a lid on beneficial properties.
Revenue was 25.95 billion patacas ($3.21 billion), the best this yr, Macau’s Gaming Inspection and Coordination stated on Saturday, versus 25.5 billion patacas a yr in the past and likewise up from April’s month-to-month haul of 23.6 billion patacas.
Analysts have been anticipating a flat to 4% year-on-year drop.
As the particular administrative area marks 20 years since its handover from Portuguese rule, slower mainland financial progress, a weaker yuan and a simmering commerce battle threaten to derail progress.
For operators in China’s solely authorized on line casino hub, the outlook stays difficult as Beijing pushes to rebrand Macau as a family-friendly vacation spot.
They are plowing about $10 billion into largely non-gaming sights earlier than their licenses expire in 2022 amid warnings new permits might be linked to efforts to diversify.
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