Reported 3 days ago
Macau's gaming revenue fell by 2% in December, falling short of analysts' expectations, as Chinese President Xi Jinping's visit led to stricter scrutiny of gambling activities. Gross revenue reached 18.2 billion patacas ($2.3 billion), which is significantly lower than pre-pandemic levels. This decline reflects diminished sentiment among tourists and frequent gamblers during Xi's three-day visit, while the city also faces a long-term challenge of diversifying its economy away from gambling, as highlighted during Xi's speeches.
Source: YAHOO