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Macau casinos post 12 percent revenue gain in May

Reuters

June 1 - Gambling revenue in the Chinese territory of Macau posted a lower-than-expected 12.1 percent gain in May, as gamblers wagered less in the country's only legal casino hub.

Figures from Macau's Gaming Inspection and Coordination bureau on Friday showed revenues stood at 25.5 billion patacas ($3.16 billion), just shy of the previous month's 25.7 billion patacas. Analysts had expected a growth of 16-20 percent.

The higher revenue in May still marks the 22nd month of consecutive rises, with revenue gains in the former Portuguese colony surging after plunging to five-year lows on slowing economic growth and a widespread crackdown on corruption starting in 2014. ($1 = 8.0690 patacas) (Reporting by Farah Master; Editing by Sunil Nair)