Macau Casinos See Surprise Revenue Drop Amid Hong Kong Protests
- Protests, possible junket crackdown may have held back VIPs
- July’s 3.5% drop widely missed estimates for 2% increase
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Protests in Hong Kong may be starting to deter gamblers from casinos in nearby Macau, with revenue in the world’s biggest gaming hub unexpectedly falling in July.
Gross gaming revenue for Macau casino operators was 24.5 billion patacas ($3 billion) in July, down 3.5% from a year earlier, according to data from the Gaming Inspection & Coordination Bureau on Thursday. That missed analysts estimates for a 2% increase, and cuts short a two-month rebound.