Macau Casino Revenue Drops 2% in December
Macau Casino Revenue Drops 2% in December

Macau Casino Revenue Drops 2% in December

News summary

Macau's gaming revenue decreased by 2% in December, reaching 18.2 billion patacas (approximately $2.3 billion), missing analysts' expectations. This decline has been attributed to heightened scrutiny and tighter security measures during Chinese President Xi Jinping's visit, which coincided with the 25th anniversary of Macau's return to China. The total gaming revenue for 2024 reached 226.8 billion patacas, a 24% increase from the previous year but still 20% lower than pre-pandemic levels in 2019. Xi emphasized the need for Macau to diversify its economy beyond gaming, urging the development of new industries during his visit. The new chief executive, Sam Hou Fai, echoed this sentiment, committing to policies that align with Beijing's goals for economic diversification. As Macau relies heavily on its casino industry, the challenges faced during Xi's visit highlight ongoing concerns about the future sustainability of its gaming revenue.

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67% Left
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daae85f0-2883-42fc-b085-888140adf30d71639883-fbbd-48af-8cc3-393f63e7b2efa3544a73-dab3-486d-ae75-bd4d15f01f55
Left 67%
Center 33%
Coverage Details
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3
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2
Center
1
Right
0
Unrated
0
Last Updated
16 days ago
Bias Distribution
67% Left
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