Slump in property business outweighs growth in entertainment operations

Dalian Wanda Group Co's revenue fell for the first time in at least 11 years after a slump in its property business outweighed growth from entertainment operations at billionaire Wang Jianlin's conglomerate.

Sales, which included property-contracted sales, declined 14 percent in 2016 from a year earlier, according to a Wanda statement on Saturday, more than a January 2016 forecast of a 12 percent drop.