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Why Investors See Macau’s 40% Casino Sales Drop as Good News

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This is what passes for good news in Macau these days: the city’s drop in casino revenue is stabilizing at about 40 percent.

Gross gambling revenue in the world’s largest gambling hub fell 39 percent to 21.5 billion patacas ($2.7 billion) last month -- the second-worst monthly decline on record -- according to data released Wednesday by Macau’s Gaming Inspection and Coordination Bureau. That met a median estimate of 40 percent from nine analysts surveyed by Bloomberg.