Gambling Revenue In Macau Rises 45 Percent In April
From a year earlier, gambling revenue in Macau rose 45% in April. Mainland Chinese visitors to the world’s largest gambling market helped push the results to a third straight monthly record.
In China, Macau is the only place where casinos are legal. Despite local government policies to slow the booming industry and encourage a more measured pace of growth, gambling revenue growth in the territory has been on a tear since the end of 2009.
Macau’s Gaming Inspection and Coordination Bureau said Tuesday that, gambling revenue in Macau rose to 20.51 billion Macanese patacas last month, from 14.19 billion patacas a year earlier. The total for April surpassed the previous monthly record of 20.09 billion patacas, hit just a month earlier in March.
In both February and March, last month’s growth follows blistering year to year increases of 48%, and a 58% surge for all of last year.
There were 33 casinos in Macau at the end of the first quarter of 2011, 20 of which were owned by Sociedade de Jogos de Macau, three by Venetian Macau, five by Galaxy Casino, three by Melco/PBL Jogos (Macau) and one each by Wynn Resorts and MGM Grand Paradise. In the next few days a new resort with a casino, called Galaxy, is due to open in Macau.
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