Macau Casinos Hit Record Revenue

Posted on Nov 24, 2010 in Australia Casinos

There is no stopping the casinos of Macau, as the mainland Chinese visitors helped with raising the gambling revenue by 50%. We are talking in billions and $2.4 billion is the total gambling revenue for the six casino operators in the Chinese territory and this is only for the month. Compared to the revenue from casino games of last October this has seen a major increase by $1.6 billion. These figures were made public by the Gaming Inspection and Coordinate Bureau and the major factor that helped in reaping more revenue for casinos was the Golden Week holiday of China.

If I can wish for something this Christmas, then my wish would be to own a casino in Macau, as the overall revenue for the first ten months of 2010 is more than $19million and compared to last year’s revenue this has grown by 59 percent.

The people, who influenced this growth in revenue, were gamblers from the mainland and the figures show that they made up for nearly 53% of the visitors who came to Macau from January to September of this year. The Golden Week brought in more visitors and this helped the visitor’s percentage rise to a whopping 70% which is estimated to be about 685,000.

The stock markets reacted to this good news and this lead to the price of Sands China stocks to go up by 1.2 percent making the stock price HK$17.10 and this was before the figures were released. Whereas for SJM Holdings shares it was even better as it rose by 3.1% and the current price is HK$11.88. The other business that enjoyed a uptrend in shares were Wynn Macau, Galaxy Entertainment, Melco International Development and Crown Ltd.

Las Vegas is still holding on its reputation but Macau has surpassed it and is currently the world’s biggest center for gambling.