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Macau Gambling Revenues Freefall 3.7%

The world's largest gambling metropolis had a very rough month of June, as Macau saw its gambling revenues fall 3.7%.

For the month of June, Macau's 35 casinos brought in $3.4 billion (27.2 billion patacas), which is down from 28.3 billon patacas last year.

The numbers are down 3.7% year over year, likely due to the China's recent crackdown on corruption, which has slowed the influx of VIP players to Macau's casinos. Most of Macau's gambling economy is made up from these gamblers, who wager up to $645,000 on casino games.

The decline in revenues is Macau's first drop in four years, when Macau's gambling market dropped a staggering 17%.

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