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Macau Revenues Tumbled 37% in May

In May Macau's gaming revenues fell 37% from the same period last year, bringing about the twelfth consecutive month of decline for the former Portuguese colony.

Revenue for Macau fell from 32.4 billion patacas last year to 20.3 billion ($2.5 billion) in May this year. The decline was actually a bit of a bright spot for analysts, who expected the drop to be even higher. During the first quarter of this year Macau's economy shrank by 25%, as it was hit hard by China's clampdown on spending and corruption.

Because of the drop in revenues, Macau is forcing casino operators on the island to diversify their interests into other non-gaming businesses.

Casino Listings will post an update on June 2015's numbers in early July when they are posted.