Gross domestic product for the full year dropped 0.4% following a 10.2% year-on-year decline in the second half of the year, according to data released by the gterritory's statistics and census service on Friday.
Chinese President Xi Jinping’s anti-graft campaign prompted high rollers to avoid the world’s biggest gambling hub during the peak Lunar New Year holiday period, leading to the worst monthly decline in gaming revenue in February.
Tighter restrictions on visas and cigarette smoking have also deterred vacationing gamblers.
The industry may face an 8% drop in gross gaming revenue in 2015, a Bloomberg survey showed, extending last year’s 2.6% fall. Gross gaming revenue plunged 49% in February.
Visitors from mainland China are also spending less than before, a further blow to the upscale restaurants, luxury retail malls and high-end hotels that casinos have set up next to their gambling halls.
Excluding gambling, per-capita shopping expenses by Chinese tourists dipped 32.8% to 1,079 patacas (US$135) in the quarter to Dec 31, according to data from the Macau government.
Galaxy Entertainment Group and Melco Crown Entertainment are scheduled to open new projects on Macau's Cotai strip later this year, in a bid to woo more visitors.