Macau Gambling Revenues On A Sick Heater

Macau Gambling Revenues On A Sick Heater - Image via Wikipedia

The small city in Southern China has exploded in 2010 with an almost 60% rise in revenues from its main import, gambling. The casinos revenue in Macau raced to a record breaking $23.51 billion or 188.34 patacas with Chinese and international players flocking to the new gaming hub.

The US big-money casinos have a piece of this action too. Las Vegas corporations MGM Grand, Wynn and Sands are currently operating casinos in the world’s largest gambling center. The number of gamblers has easily surpassed Las Vegas, with visitors from mainland China taking advantage of easy travel.

In the month of December, the Macau Gaming Inspection and Coordination Bureau reported that revenues hit a record monthly top spot of 18.883 patacas, which was a 66.4% growth.

The diminutive city is a powerhouse of 6 casino operators. LVS.N Las Vegas Sands (Sands China Ltd,) Wynn Resorts Ltd. (Wynn Macau Ltd,) and Chinese owned Galaxy Entertainment Group Ltd and SJM are the top fortune rakers. Players travel from all over the world to the neon-lit city, a modern and sleek oasis on the Cotai strip in Southern China. Two new casinos break ground in the next 18 months.

While the revenue jump was stunning in December, experts don’t believe it can sustain in the first month this year. CLSA’s head of gaming research, Aaron Fisher, surmised, “The absolute level of the market is massive so its hard to sustain that level of growth.” He predicted a more reasonable rise of 20% in 2011 and 25% in 2012.

Short URL: http://www.ggpokernews.com/?p=780

Posted by Gay Wake on Jan 6 2011. Filed under Live Poker News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.