Macau Casinos Stung as Fewer Chinese Come and Spend Less: ChartBy
Mainland Chinese have toned down their spending, shelling out 1,762 patacas ($220) per person in the first quarter on non-gambling purchases, down almost a third from 2014. That’s bad news for casino operators such as Wynn Macau Ltd. and Galaxy Entertainment Group Ltd. as they shift focus to casual gamblers and tourists to lift revenue from hotels, retail and conventions amid a two-year gambling slump. Chinese still make up about two-thirds of Macau’s visitors, even as their numbers last year fell for the first time since 2009 and eased a further 1 percent in the first four months of this year, according to data released Monday.
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