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Macau casino revenues beat expectations, hit 10-month positive streak
June 1, 2017 / 5:24 AM / 6 months ago

Macau casino revenues beat expectations, hit 10-month positive streak

HONG KONG, June 1 (Reuters) - Revenues in the world’s biggest casino hub of Macau jumped 24 percent in May, beating expectations and posting a 10-month winning streak as wealthy gamblers returned to the southern Chinese territory despite a corruption crackdown.

Gambling revenue in the only place in China where casino gaming is legal rose 23.7 percent in May to 22.7 billion patacas ($2.83 billion), government data showed on Thursday. Analysts were expecting growth of 15-20 percent.

Macau’s gambling take is rebounding amid steady economic growth in China, recovering from five-year lows set in 2014 when President Xi Jinping launched an anti-graft campaign targeting ostentatious displays of wealth. ($1 = 8.0180 patacas) (Reporting by Farah Master; Editing by Stephen Coates and Muralikumar Anantharaman)

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