July 2, 2012 / 8:12 AM / 6 years ago

Macau gambling revenue up 12 percent in June

HONG KONG (Reuters) - Gambling revenue in Macau grew 12.2 percent in June compared to a year ago, government data showed on Monday, a weaker rebound than the 15 percent gain expected by analysts, signaling muted demand in the world’s largest gambling destination.

June’s total figure of 23.3 billion patacas ($2.92 billion) was the lowest since last year’s November total of 23.0 billion patacas, but ahead of May’s 7.3 percent gain. July and August are also expected to be quieter months with appetite picking up in September ahead of a new property opening and a national holiday.

Macau is now seeing faltering demand and rising credit woes in China affect the spending of its key customers - the billionaire VIP gamblers who drop millions of yuan at a time. Macau is the only place where Chinese nationals are allowed to legally gamble in casinos.

Reporting by Farah Master; Editing by Matt Driskill

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