MACAU Casinos in Macau face a growing volume of bad debt provisions, further hitting earnings in the worlds largest gambling hub as high-roller VIP gamblers are retreating.
Chinas slowing economy and a pervasive campaign against graft has sapped demand from wealthy gamblers and prompted operators in the southern Chinese territory to shift their focus to lower-spending mom and pop gamblers.
As more and more rich Chinese steer clear of Macaus baccarat tables, revenues from the VIP sector have shrunk to around half of total revenue from over 70 percent at the start of 2014.
The bad debt provisions, which have more than doubled in 2015 and are seen growing further due to tightening regulation, are adding to the pressure on the industry t…
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