May 1, 2019 / 5:53 AM / 4 months ago

Macau's April casino revenue posts worst drop in nearly three years

FILE PHOTO: Gaming machines are installed at the casino of MGM Cotai in Macau, China February 13, 2018. REUTERS/Bobby Yip/File Photo

HONG KONG (Reuters) - Gambling revenue in the Chinese territory of Macau fell 8.3 percent in April, the biggest year-on-year drop since June 2016, due to tempered demand from high rollers amid a slowdown in the world’s second-largest economy.

April’s haul slid to 23.6 billion patacas ($2.92 billion), the weakest monthly revenue this year, Macau’s Gaming Inspection and Coordination posted on Wednesday.

The figure, down from 25.8 billion patacas in March, was in line with analyst expectations for a 3-12 percent drop year on year.

As the special administrative region marks 20 years since its handover from Portuguese rule, slower mainland economic growth, a weaker yuan and a simmering trade war threaten to derail growth.

Reporting by Farah Master; Editing by Sonali Paul

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