Macau Gambling Revenue Falls 48 Percent in February

Looks like 'Lady Luck' is steering clear of Macau. Casino revenue in the gambling capital of the world plunged by nearly half last month, as fewer Chinese high-rollers visited during the busy Lunar New Year holiday. Data posted on the gambling regulator's website show that February's gross gambling revenue fell by more than 48% from a year earlier to $2.4 billion. Wealthy gamblers from mainland China have been staying away from the coastal enclave near Hong Kong as the world's No. 2 economy undergoes a painful slowdown and officials pursue a corruption crackdown that's reined in lavish spending. Macau's annual casino revenue declined for the first time on record last year, falling to $44 billion. That's still about seven times more than the amount earned on the Las Vegas Strip.