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Macau Chief Sees Casino Revenue Slumping More Next Year

Macau’s chief executive forecasts casino revenue to come in at 200 billion patacas ($25 billion) next year, the lowest since 2010 and a further decline from what analysts estimate for the whole of 2015. Casino shares fell.

“We try to be conservative and maintain stability,” Chief Executive Fernando Chui said at a press conference in Macau on Tuesday, after announcing his policy proposals to the city’s legislators for next year. The last time casino takings fell below 200 billion patacas was in 2010, when the industry recorded gross gaming revenue of 188 billion in the Macanese currency unit.

Macau is going through its worst gaming downturn on record as gross gaming revenue fell in October for the 17th straight month amid China’s slowing economy and crackdown on corruption, which deterred high-stakes VIP gamblers from visiting the city. Chui, in his comments, urged Macau’s casino operators to continue balancing their gambling and non-gaming offerings, even as they build new malls and attractions to...