James Packer’s $4 billion gamble in Macau, the Hollywood-themed Studio City complex, has already paid its first dividends with Melco Crown Entertainment.

Macau, known as the world’s biggest gambling hub, has already hit an annual low not seen since 2010, following the China government’s relentless crackdown on corruption. The city state’s monthly gaming revenue for December came to MOP 18.34 billion (US$2.3 billion), marking the 19th straight month the city’s gaming revenue has reported a year-on-year shortfall.

The Australian billionaire, however, wasn’t deterred by Macau’s gloomy prospects.

Packer’s Crown Resorts, which has a 34 percent stake in Melco Crown Entertainment, wagered that its newly-opened Studio City complex would help reverse the city state’s stagnating gaming industry by focusing on mass market gambling and family-friendly entertainment.