Macau's Gambling Revenue Falls Steeply Amid Anti-Corruption Crackdown

Gambling revenue in the world's largest gambling hub, Macau, saw the steepest drop in five years. The former Portuguese colony is the only city in China where people can gamble legally, but it appears people aren't going anymore because the country's anti-corruption campaign is in full swing. Macau's gaming revenue fell almost 12% in September to 25.6 billion patacas, or 3.2 billion U.S. dollars according to Macau's gaming bureau. Two-thirds of Macau's gamblers come from mainland China. Beijing's anti-corruption campaign continues to drive them away and the falling real estate prices in the country didn't help. Macau's Secretary for Economics and Finance, Francis Tam Pak-Yuen, said he wasn't surprised at the casinos' declining appeal and expects the down trend to last a while. Starting this month, Macau's local government is also rolling out stricter enforcement of the smoking ban on casino floors.