Since Reunification，the gaming industry in Macao had been growing steadily strong. The growth stopped in June 2014 and 19 months of continuous negative growth in gaming revenue was witnessed. The anti-corruption campaign and economic deceleration in the Mainland are contributing factors，but are not the principal causes. More important causes are the operation crisis in VIP rooms，regulation of China UnionPay card transactions，measures against money laundering and underground banks，among others. Most of these causes are beyond the control of Macao，hence no significant change could be foreseen in the short term. It can be said that the lower level growth of Macao’s gaming revenue has become normal. Although the present situation has not yet created employment and fiscal problems，it is still necessary for Macao to plan ahead and to take measures to prepare for long-term challenges that may emerge.