Macau’s Downturn Deepens, Continues

Macau’s Downturn Deepens, ContinuesA Chinese crackdown on corruption and a faltering mainland economy have had a devastating effect on the economy of Macau, with gross gaming revenue falling for the 25th straight month, an 8.5 percent decline in June to 15.9 billion Macanese patakas (US$2 billion) according to the Gaming Inspection and Coordinating Bureau. The once-sleepy former Portuguese…

China’s Gamblers Flee Overseas

China’s Gamblers Flee OverseasWhen Chinese President Xi Jinping began his crackdown on corruption in late 2012, it was clear that the gambling spa of Macau was going to be collateral damage, packed as it was by cadres with cash, bearing bottles of Viagra and looking for several different kinds of action. Three years on, the carnage in China…