Macau, casino revenue dips record 23.2% in october

Bad news for Macau. City’s casino market experienced a 23.2 percent decline in gaming revenue during October, the largest single-month drop since American-owned casinos began operating in the Chinese market in 2004.

Total casino revenue was $3.5 billion in October — Macau’s fifth straight monthly decline, the Macau Gaming Inspection and Coordination Bureau said Tuesday.

Analysts now expect Macau’s downward trend to continue into 2015 as high rollers skirt the market because of a government crackdown on corruption.

Through October, Macau gaming revenue is still up 2.3 percent over 2013. But analysts predict double-digit declines in November and December.

“We currently see no reason that trends should materially improve in the first quarter of 2015, relative to current levels,” said Macau-based Union Gaming Group principal Grant Govertsen.

Macau produced a record $45.2 billion in gaming revenue in 2013.