Macau’s casino revenue turned for the worse in August.
Research suggests Macau interprets rules to boost casinos, even when Beijing wants to suppress gaming.
The world’s gaming capital casino revenue declined in November for a sixth straight month, with recovery still distant.
With five straight months of lower casino revenue, Macau could see its first annual decline since liberalization in 2002.
Investor conviction that June’s revenue fall represents a bottom for Macau’s slump may prove premature.