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Macau September Financials Drop 33%

Macau's gambling woes continued to plague the Chinese betting destination in September as gaming revenues dropped 33% when compared to the same period last year.

For the month Gross Gaming Revenue was 17.1 billion patacas ($2.14 billion USD), which is down from 25.5 billion last year. The drop in revenues is being attributed to China's sagging economy, continued crackdown on corruption, and a lower than average rate of win on VIP customers. For the year Macau has seen its revenues fall by 36.2%.

Even though the results are dismal, Macau actually beat analyst projections as the drop in revenues is the lowest that the destination has seen since January. October is predicted to see a drop in revenues of between 27-33%, and the lower revenues are expected to continue until next year.

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