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Macau Revenues Fall for Third Straight Month: A Trend Emerging?

The Macau Gaming Inspection and Coordination Bureau has released the former Portuguese colony's financial results for August, noting that gaming revenue fell for the third straight month.

For August, Macau casinos brought in 28.9 billion patacas ($3.6 billion USD), which is down 6.1% from the same period last year. That number is much steeper than the 2% drop that analysts predicted, leading some in the industry to ponder whether the trend will continue into the fourth quarter.

The drop in financials is being attributed to Chinese vacationers cutting their spending, which is reflected in the hot holiday spot. Another concern is that wealthy Chinese citizens are nervous about an anti-corruption drive, and are spending less as a result.

Still, Macau is easily the world's largest gambling economy, outpacing what Las Vegas does in a whole year in just a few months.