MACAU GAMING REVENUE SINKS FOR FIFTH MONTH

Macau's casino industry booked a fifth straight month of declining revenue in October, even as a record Golden Week crowd flooded the city's tables. Gross gaming revenue fell 10% year-over-year to 21.68 billion patacas, or $2.68 billion, even as visitor arrivals during the holiday jumped 15.5% to 1.14 million. The gap shows high rollers, not tourists, still drive the swings that matter for operators like Melco Resorts ($MLCO). Revenue remains about 18% below 2019 levels.