Economics
Macau Economy Slumps 26.4% as Anti-Graft Crackdown Deters Gamblers
- China's anti-graft crackdown, slowing economy hurt casinos
- City's surplus of $1.1 billion down by half from first quarter
A pedestrian walks past watches on display in a store window in Macau, on Aug. 29.
Photographer: Jerome Favre/BloombergThis article is for subscribers only.
Macau’s economy dipped to its lowest since 2011 as high-end gamblers avoided the world’s largest casino market amid a widening crackdown on graft in China.
The city where gambling accounts for four-fifths of economic output saw GDP tumble 26.4 percent in the last quarter, according to government data released Monday. The drop worsened from 24.5 percent in the first quarter.