The gross receipts of Macao's 18 casinos dropped 3.1 percent year-on-year during the Chinese lunar New Year holiday, local media reported Tuesday.

Macao Post Daily reported that the gross receipts amounted to 862.3 million patacas (107.8 million U.S. dollars) during the holiday season ending Feb. 4, against 890.2 million patacas (111.3 million U.S. dollars) during the same period of 2005.

The report said the gaming gross receipts in January totaled 3.42 billion patacas (428 million U.S. dollars), a year-on-year decrease of 5 percent.

Macao, with a population of 480,000, currently runs 18 casinos which dedicate over 70 percent of the government's annual revenue.

Source: Xinhua