MACAO -- Macao's gaming industry revenue dropped 55.8 percent year-on-year in March, the Macao Special Administrative Region (SAR)'s gaming industry watchdog said on Friday.

Macao's Gaming Inspection and Coordination Bureau said in its latest report that the gaming revenue for March dropped to 3.672 billion patacas (about $454.2 million), a decrease of 55.8 percent year-on-year and 52.7 percent month-on-month.

The accumulated revenue in the first three months of this year reached 17.774 billion patacas (about $2.20 billion), down 24.8 percent year-on-year.