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Thursday, September 1, 2016, 13:35

Macau gambling revenue breaks 2-yr slump

By Reuters

HONG KONG - Macau, the world's biggest casino hub, posted a 1.1 percent rise in gambling revenue in August, the first positive monthly year-over-year growth in more than two years, after the opening of Wynn Macau's US$4 billion resort in the southern Chinese territory.

August marks the first upward tick for the Special Administrative Region since May 2014, after monthly revenues plummeted to five-year lows due to a major anti-graft campaign and slowing economic growth in the world's second largest economy.

Gambling revenue was 18.8 billion patacas (US$2.4 billion), government data showed on Thursday, at the top end of analysts' expectations that varied from a drop of 3 percent to a 1 percent growth.

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