Casino rev­enue up 29% in July

The Star Early Edition - - BUSINESS REPORT INTERNATIONAL -

CASI­NOS in the world’s big­gest gam­bling hub of Ma­cau ex­tended a one-year win­ning streak with monthly rev­enue ris­ing 29 per­cent last month be­cause of a resur­gence in spend­ing by wealthy pun­ters and an in­crease in the num­ber of tourists. The spe­cial ad­min­is­tra­tive re­gion of Ma­cau is the only Chi­nese ter­ri­tory where casino gam­bling is le­gal. The in­dus­try is re­cov­er­ing from a more than two-year de­cline that co­in­cided with a gov­ern­ment cam­paign against os­ten­ta­tious­ness among pub­lic of­fi­cials. Gam­bling rev­enue reached 23 bil­lion pat­a­cas (R38bn) last month, gov­ern­ment data showed. That com­pared with an­a­lysts’ es­ti­mates of growth of 27 to 30 per­cent. Ma­cau’s mar­ket has grown over the past year, with new re­sorts in­creas­ing com­pe­ti­tion for casino op­er­a­tors. – Reuters

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