Macao Gambling Revenue Plunges by Another 95% in July
After the earnings reports from Las Vegas Sands, MGM Resorts International (NYSE: MGM), and Wynn Resorts, no one was thinking the July gambling revenue numbers out of Macao were going to be any good, but the fact they fell another 94.5% in the month suggests the casino operators' recovery is still well off in the distance. The Gaming Inspection and Coordination Bureau said gross revenue from games of fortune plunged to just 1.34 billion patacas (the local Macao currency, the equivalent of $168 million) from 24.4 billion last year.
