Macau's August Casino Win Drops 6 Percent To $3.6 Billion

Macau’s casinos took in roughly $3.6 billion from gamblers in August, which was a 6.1-percent fall compared to August 2013.

Analysts were expecting a decline of 2-6 percent, Reuters reported.

Rarely does Macau’s gaming industry disappoint, as it has quickly grown to be the world’s top gambling hub, bringing in more than $45 billion in gaming revenue last year.

The August drop was the third straight month of year-over-year gaming revenue decline (for a single month) in the former Portuguese colony, the only place in China where casino gambling is legal.

Macau has 35 casinos.

According to Reuters, a stepped up campaign against corruption and falling housing prices in China were the reasons for weaker demand from high-rolling VIP customers.

Macau’s fortunes depend heavily on the big spenders.

Despite the recent drop in demand, some casino firms, including ones based in the United States, are in the midst of building more casinos in the special administrative region of China. A total of eight more resorts are in the pipeline, Reuters reported.

Analysts do expect the following months to yield better results, the report added.

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