Junket operators sell Macau flats

Junket operators have begun selling their properties in Macau amidst the slump in VIP revenue, local media reports.
The VIP promoters are mostly selling expensive, unfurnished flats in Cotai and the north of the peninsula, the reports cited property agents as saying. The sellers are offering discounts of up to 10 percent, it said.
Gross gambling revenue has fallen for five straight months since June, dragged down by a steep drop in VIP gamblers. GGR in October showed its worst slump on record, dropping 23.2 percent, with revenue from high rollers estimated to have dropped about 30 percent.
The slump has been blamed mostly on a crackdown on corruption in mainland China, which has made high rollers wary of “extravagant” behaviour.