In April, Macau’s casino revenues plunged 39% to $2.42 billion, representing 11 consecutive months of negative growth for China’s only legal gambling resort. The worrying situation follows years of unprecedented expansion for Macau’s gambling industry, making this recent downturn all the more troubling for the major casino operators who have 35 venues spread out across the island of 636,200 people.
One businessman feeling the pinch is Australian billionaire James Packer, the chairman of Crown Resorts, …read more
Source:: Macau Downturn Severe Says Crown Resorts Owner James Packer
Macau Downturn Severe Says Crown Resorts Owner James Packer
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