Macau gambling revenue hits a new low in February, with a shocking 48.6 percent decline. Analysts were predicting weak numbers but not as bad as those released on Monday by the Gaming Inspection and Coordination Bureau, which are the worst on record.
The revenue fall of 18.5 billion patacas has been attributed to a slowdown in Chinese economy as well as to Chinese government’s fierce war on corruption. Reuters news agency reports that February’s results are a continuation of a nine-month consecutive fall in Macau gambling revenue. In related news, police in the Hunan province has detained 19 people after busting a cross-border gang running an Internet gambling operation, Chinese news agency Xinhua reports. A police spokesman reveals that the gang operated the "Shenbo Sun City" website using overseas servers, making a profit of 1.4 billion yuan in the process.