Actionable news
All posts from Actionable news
Actionable news in WYNN: Wynn Resorts, Limited,

Is Macau's epic gambling slump over?

Macau hit by gambling crackdown

Is Macau's epic gambling slump finally coming to an end?

Gaming revenues in the Chinese territory increased by 1.1% in August compared to the previous year, snapping a 26-month losing streak that has hurt the city's casino industry and slammed its economy.

Macau is the only place in China where gambling is legal, and strong demand turned its casino industry into a $45 billion colossus by 2013, roughly seven times bigger than Las Vegas.

But the special administrative region's economy has taken a major hit from China's anti-corruption campaign.