Macau Poised to Break Revenue Record

Macau Poised to Break Revenue Record

26 Jan 2012 | 09:25 Author: Seth Shafer

Macau is poised to kick off 2012 on the same winning streak it enjoyed in 2011, with analysts predicting that January gambling revenue totals will eclipse the record set last October.

Macau is poised to kick off 2012 on the same winning streak it enjoyed in 2011, with analysts predicting that January gambling revenue totals will eclipse the record set last October.

The Chinese New Year holiday is expected to give a big boost to Macau's revenues for January, with VIP operators and gambling junket providers (who largely cater to high stakes baccarat players from mainland China) already experiencing surging business in early 2012.

Union Gaming Group principal Grant Govertsen has pointed to increased occupancy rates at hotels and casino raising their maximum and minimum table stakes and stated that: "Assuming hold is within the normal range, it should translate into record gross gaming revenue. We have walked most of the major casino floors on each of the past several nights, both on the Macau Peninsula and Cotai Strip, and have seen crowds grow significantly."

Macau's current record for monthly gamblign revenue was $3.4 billion which was set in October 2011. While many associate Las Vegas as the gambling capital of the world, Macau passed the Vegas Strip in 2006 as far as total gambling revenue taken in and is poised to eclipse the entire state of Nevada in the near future.

The appetite of Asian gamblers shows no signs of being sated, with casinos in both Singapore and Macau showing double digit growth in 2011 with more of the same projected for 2012 and 2013.

Rumbles from the Chinese government about possibly slowing the growth of gambling in Macau via making credit harder to come by have spooked investors in the stocks of casino groups operating in Macau but to date has had no impact on the steady stream of gamblers visiting the former Portugese colony.

Several US casinos also stand to profit from booming business in Macau, with Las Vegas Sands, MGM International, and Wynn Resorts all operating casino properties in Macau.

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