Macau casinos hit unlucky streak with anti-corruption campaign

The six biggest Hong Kong-listed Macau casino stocks have fallen 32% on average this year as President Xi Jinping’s continuing corruption crackdown spooks gamblers, Bloomberg reported, citing new industry estimates. Gross gaming revenues, which have averaged a 30% growth rate over the past 10 years, are expected to drop 1% this year, according to research firm CLSA. Tour operators are now offering VIP gambler private jets to Melbourne and Las Vegas to avoid the increased scrutiny in Macau. Workers have also taken to the streets seven times this year in protest of low pay and poor working conditions, and are planning more demonstrations over the National Day public holiday later this week.