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Macau February gambling revenue plunges by record 48.6 pct

Reuters

HONG KONG, March 3 (Reuters) - Gambling revenue in Macau, the world's biggest gaming hub, dropped 48.6 percent in February, the worst drop on record, as an economic slowdown and a campaign by Chinese authorities against conspicuous spending kept some wealthy players away.

Revenue fell to 19.5 billion patacas ($2.44 billion), from 38 billion patacas a year earlier, according to data released by Macau's Gaming Inspection and Coordination Bureau.

Analysts were expecting a decline of 45 percent to 55 percent.

This was the ninth consecutive monthly fall in gambling revenue from China's only legal casino hub, which is a special administrative region like neighboring Hong Kong. ($1 = 7.9831 patacas) (Reporting by Farah Master; Editing by Kavita Chandran)