The Stunning Bust In The Macau Casinos: What It Says About China’s Fracturing Bubble

In December, revenues plunged 30.4% from a year earlier, according to the Gaming Inspection and Coordination Bureau (DICJ), the worst decline in the history of its data going back to 2002. Pundits had expected a decline but not this “shocker.” It was the seventh month in a row of declines, matching the financial crisis record. Even after the glorious first five months, revenues for the year dropped 2.6% to 351.5 billion Macau patacas ($44 billion), the first revenue drop in the history of the data......
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