Macau's gambling revenue drops 32.3 pct in November

HONG KONG, Dec 1 (Reuters) - Gambling revenue in Macau plunged 32.3 percent in November, year on year, extending a decline from the previous month and hovering near five-year lows as the world's biggest gambling hub struggled to attract wealthy Chinese punters.

Revenues in Macau, the only place in China were casino gambling is legal, have fallen for 18 consecutive months due to slowing economic growth and a broader crackdown on corruption targeting the illicit money outflows.

Gambling revenue dropped to 16.4 billion patacas ($2 billion) from 24.3 billion patacas a year earlier, the lowest this year and down from 20.06 billion patacas in October, according to data released by the Macau government on Tuesday.

Six analysts polled by Reuters estimated a decline between 31 percent and 34 percent.

(Reporting by Farah Master; Editing by Miral Fahmy and Ryan Woo)