Macau Casino Revenue Up by 65% in June
Macau’s success can rival Las Vegas’ popularity as a prime destination for casino entertainment, following its impressive revenues for the past years. In fact, Las Vegas Strip was no longer the world’s biggest gambling entertainment center in 2006 after Macau surpassed its performance. Last year, records show that bettors wagered 119 billion in Macau casinos, which posted a 9.7% increase compared to 2008. With these numbers, it looks like the growth of the casino industry in Macau is unstoppable.
Revenues up by 65% in June
Macau Gaming Inspection and Coordination Bureau just came out with the latest statistics saying that in June this year, revenues are up by 65% compared to last year’s. The 65% growth amounts to 13.6 billion patacas or $1.69 billion dollars. This makes Macau a successful gambling entertainment hub not only in Asia but also in other parts of the world. High-stake rollers and common travelers make a stop in Macau to experience gambling entertainment commonly compared to Las Vegas’.
However, when compared to May 2010 figures, last month’s recorded revenues eased by about 20%. Industry experts say that the 20% difference can be due to the massive betting directed toward the FIFA World Cup, a prestigious football league held in South Africa. Revenues in June were also affected by VIP wagering for the event, which started on June 11 and would last until mid-July in South Africa. Anticipating the end of the World Cup fever, experts believe that the industry can quickly recover starting mid-July. August, they say, is a travel season for summer vacationers, and this could mean Macau will be in business as usual and will be able to sustain its usual business levels.
Analysts from Deutsche Bank attributed the success of Macau as a casino and gambling entertainment center to the economic growth of China and the lending surge in the region. These supported the boom of the casino industry in Macau, the only place in China where casino and gambling are allowed and considered legal. Aside from casino owners, industry experts also say that junket operators were also the ones to benefit from the boom in the industry. As they bring high-stake gamblers to Macau and lend these gamblers money, junket operators also saw an increase in credit, which benefits their business, according to the report of Bloomberg business news.
Deutsche Bank also reported that that bets made on VIP tables of Macau casinos can be as high as 2 million patacas per hand. With this, VIP gamblers are said to make up 70% of the revenue based on CLSA estimates.