Macao casino revenue slides despite increase in tourism numbers

It's a big week in Macau. Golden Week has just wrapped up where Chinese families travel. NBA China games pit the Houston Rockets against the Dallas Mavericks. The Rockets won tonight, but there's another matchup on Sunday. This is exactly what the Macau government envisioned when it extracted commitments from the six casino companies here to invest big in non-gaming amenities. And it looks like it's working. Visitation is way up over prepandemic levels. August just set an all-time record for monthly visits, up 6% over last year. But gambling revenue declined 7%. And then September saw an additional 17 drop month overmonth in gross gaming revenue. It looks like these visitors just aren't hitting the Bakarat tables the way they used to before the pandemic. Analysts are blaming Chinese macroeconomic issues and tax crackdowns on offshore accounts.