2015 ended with gambling revenue in Macau falling for the second consecutive year, which is attributed to China's corruption crackdown that has kept high rollers from visiting the Asian gambling destination, reported Sina.com.
Revenue decreased by 34.3 percent to 230.84 patacas ($28.92 billion), the lowest in five years, according to figures released by Macau's Gaming Inspection and Coordination Bureau. In 2014, gaming revenue fell by 2.6 percent.
Further, gaming revenue fell by 21.2 percent in December, declining for the 19th consecutive month, amid China's economic slowdown. The country's campaign against corruption has hurt VIP attendance in Macau.
The 2015 results matched the expectations of nine analysts polled by Bloomberg News, who predicted a 35-percent decrease.
"Macau has been hit hard by the anti-corruption campaign which has deterred wealthy customers from visiting Macau," said Aaron Fischer, head of consumer and gaming research at Credit Lyonnais Securities Asia (CLSA).
"2016 is not likely to be a very good year. However, after a 34-percent decline in 2015, consensus expects revenues to be roughly flat, which is a big improvement," added Fischer.
President Xi Jinping's high-profile corruption crackdown has been seen as the reason for the slowdown in Macau, a special administrative region under China.
Macau's casino operators are trying to make up for the lost income from high rollers by luring more mass market visitors. This has led to several large projects on former swamp land on the coastal Cotai Strip.
The latest launch was of the Studio City hotel and casino resort in October, which featured Robert De Niro, Martin Scorsese, Brad Pitt and Leonardo Di Caprio.
"There's no question that 'uncertainty' is the plaguing word of the day in Macau," said Steve Wynn, founder of Wynn Resorts, in April.
Macau surpassed Las Vegas as the world's gambling capital after being open to international operators in 2001. In 2014, it earned more than seven times the U.S. gambling destination.
However, Macau is now being forced to emulate Las Vegas and become a destination with much broader appeal.