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The forecast of a second consecutive year of economic contraction, after a decline of 4.7% in 2019, is based on the fall of around 40% in revenue from gaming, due to the territory”s huge dependence on casino revenues.
“Macau is one of the largest casino gambling centres in the world,” said Fitch, adding that this industry accounts for 51% of aggregate activity, 22% of employment and more than 80% of tax revenue.
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