Macau Casinos Post 2-Month Revenue Slump as China Crackdown Ends 16-Month Growth
Updated
Updated · Bloomberg · Aug 7
Macau Casinos Post 2-Month Revenue Slump as China Crackdown Ends 16-Month Growth
2 articles · Updated · Bloomberg · Aug 7
Summary
June and July revenue declines at Macau casinos were steeper than expected, marking the sector’s sharpest setback since reopening from Covid.
The 2-month slump followed Beijing’s broader push to curb capital outflows, including taxes on offshore trusts, a crackdown on cross-border brokerages and tighter limits on outbound investment into Hong Kong and Macau.
High-rollers have been hit hardest because their spending is especially sensitive to financial-market volatility and policy signals around moving money offshore.
The reversal has rattled investors and raised concern that weakness in the world’s biggest gambling hub could last longer than a brief summer slowdown.