Macau Gaming Revenue is out of control
You would think that the Chinese would consider opening another gaming center near the mega cities of Beijing or Shanghai. Macau is about 750 miles from Shanghai, and over 1200 miles from Beijing,
I.E. A typical minimum bet at a BJ table is $5 in Vegas. How much is the typical minimum bet at a BJ table is Macau?
Quote: DJTeddyBearwhat is the exchange rate and consumer value of their dollar?
Not sure how this is relevant when the quoted revenue figure is $US anyway?
The Asian appetite for gambling seems insatiable. While is Macau going through the roof, Singapore is fast catching (or has already caught?) Vegas in revenue terms. Hard to fathom really.
Singapore is silly to only allow two casinos, by the way. I think they'll loosen up eventually.
How is the revenue divided? Does the government take half?
Quote: DJTeddyBearWhile I am not knocking Macau's bigger handle, what is the exchange rate and consumer value of their dollar?
I.E. A typical minimum bet at a BJ table is $5 in Vegas. How much is the typical minimum bet at a BJ table is Macau?
I saw some $30 tables but they were quite rare, $50 and up is what I mostly see. I only go to the 'nicer' casinos so I guess you could find smaller minimums by going to small local casinos. Not so many people play blackjack though, for every blackjack table there are probably more than 20 baccarat tables. Most Baccarat tables have a minimum bet of HK$500 ($75) with some tables having HK$300 (US$45). At the Wynn the lowest minimum on some baccarat tables is only HKD200 ($30) but I didn't see anyone betting the minimum when I went, some teenager was actually betting $2500 on each side bets ($7500 total) and another guy was betting tens of thousands of Hong Kong dollars per hand, and this was not a high limit table! The minimum at high limit tables in the Wynn is HKD3000 ($450) and limits in VIP rooms are completely insane. I went there on a Sunday night (technically Monday morning) and it was quite full.
Quote: HKrandomI saw some $30 tables but they were quite rare, $50 and up is what I mostly see. I only go to the 'nicer' casinos so I guess you could find smaller minimums by going to small local casinos. Not so many people play blackjack though, for every blackjack table there are probably more than 20 baccarat tables. Most Baccarat tables have a minimum bet of HK$500 ($75) with some tables having HK$300 (US$45). At the Wynn the lowest minimum on some baccarat tables is only HKD200 ($30) but I didn't see anyone betting the minimum when I went, some teenager was actually betting $2500 on each side bets ($7500 total) and another guy was betting tens of thousands of Hong Kong dollars per hand, and this was not a high limit table! The minimum at high limit tables in the Wynn is HKD3000 ($450) and limits in VIP rooms are completely insane. I went there on a Sunday night (technically Monday morning) and it was quite full.
Asian's are frequently syndicate bettors, they're not betting their own money. A group gets together a lot of money and sends the best player to make the bets, and trusted overseer's to watch and make sure everything is kosher. They do it in the States too, all the time.
Quote: pacomartinThey send their best player to play in a game of pure chance. What does that say that this culture is building one of the most sophisticated infrastructures in the world.
Its not pure chance to them, its destiny. I guarantee most of those big players in Macao are representing syndicates all over China. Its completely legal and makes sense. If you can't go, give your money to somebody who can. I was told this by dealers when I was playing bac a few years ago. I was curious why some guy who was wearing $22 worth of clothes had $5000 on him every time he came in.
On most hands people usually ride the player betting the most, which explains why the revenues from baccarat vary so much.
Quote: EvenBobI have a friend who went to Macao last year. He said the people stink from bad personal hygiene, the casinos smell like smoke and bad food, and people actually hawk and spit on the carpets. Even the dealers do it. He said some Asian cutie would be dealing and she'd hawk up a wad and turn her head and spit it right on the carpet next to her. Made him physically ill.
This is exactly the reason why I only play at nice and modern Casinos with higher limits and more sophisticated customers; this type of behavior would get you kicked out of the Wynn and most of the casino is smoke free. I doubt all the restaurants there would get Michelin stars if their food was that bad.
Hey, you don't have to go to Asia to experience this. Go to Paris in the summer and ride a public bus in July. The overwhelming stink of garlic and bodies that shower twice a month will have you hanging your head out the window gagging. I did it, I know.
Also, this thread is supposed to be about gaming revenue in Macau, please stop high-jacking it.
Quote: rxwineIs it easy to do things like money laundering there? That would certainly be an attraction for all kinds of "interesting" high rollers that would find it much more attractive than Vegas.
Its still easy to launder money in Vegas, you just have to be clever about it.
Quote: rxwineIs it easy to do things like money laundering there? That would certainly be an attraction for all kinds of "interesting" high rollers that would find it much more attractive than Vegas.
I often see groups of people with no hair and many tattoos wearing nice suits and betting huge amounts, don't know if you see the same in Vegas :)
Quote: HKrandomI often see groups of people with no hair and many tattoos wearing nice suits and betting huge amounts, don't know if you see the same in Vegas :)
People who bet huge amounts aren't laundering money, they're losing it. Money launderers buy chips with bad money and cash the chips back in for good money. They don't use the chips to bet with, unless its very small bets for very short lengths of time, just to show they were playing.
Quote: EvenBobPeople who bet huge amounts aren't laundering money, they're losing it. Money launderers buy chips with bad money and cash the chips back in for good money. They don't use the chips to bet with, unless its very small bets for very short lengths of time, just to show they were playing.
Thanks for the definition! Macau and mainland China actually use different currencies and since it is rather difficult to take large amounts of RMB through the border without declaring it most high rollers use a middle-man in the mainland that gives them casino chips once they get into Macau. Although Vegas casinos can transfer the money to your bank account, as far as I know Macau casinos pay the winnings in cash and if they are significant they are usually transfered back in the mainland through another middleman. I somehow doubt that money is officially declared to government, rich people in China are somewhat allergic to receipts and taxes.
Quote: JerryLoganWhy would any US citizen want to go to one of those places to gamble ... ... bad food in the UK?
Question a: no idea why anyone would go to the UK to gamble over the US, when they start in the US. Unless they wanted to play seriously high limit table games.
However, UK food is not as bad as it was 30 years a go. And as you've never been, you wouldn't know. Horrible BS statement there, Jerry.
Quote: HKrandomMost of the big players I see there wear a lot of jewelry and designer clothes, I'm pretty sure most of the money they put on the table is their's but I might be wrong.
On most hands people usually ride the player betting the most, which explains why the revenues from baccarat vary so much.
That is considered politeness - not to bet against the big bettor. It's probably OK since most Bac players keep better records than roulette players - so if you ever sit down to play just follow the leader and try not to "insult" any one.
No, the various distance and travel barriers and Special Administrative Zones are very much desired.Quote: pacomartinYou would think that the Chinese would consider opening another gaming center near the mega cities of Beijing or Shanghai.
Singapore is already worried about its local population and the effects of casino revenue on militants.
A vast untapped market is indeed a wonderfully profitable opportunity... just think of the Opium Trade that had to be created in bygone eras.
I saw one baccarat table at the Wynn where the posted limits were $5000 to $500,000 HKD. This was a table that was out in the open (visible from the main floor) on a Monday afternoon, and I wasn't explicitly scouring the whole place for the highest table I could find. So I'm sure they go even higher.
I think the only reasons American citizens would regularly travel to Asia to gamble are (1) they are of recent Asian descent and/or have strong business or family connections there and (2) they really, really like baccarat. Also, Americans would have to have some way to get around the US cash reporting laws, such as a bank account in Hong Kong the IRS can't trace. Furthermore, Macau has more gambling revenue, but the entire tourist industry seems much more developed in Vegas, and certainly much more geared to American tastes in Vegas.
I'd advise those hating garlic never to go to Garlic and Shots in London. You go in, and everything has garlic in it. Ladles and ladles of it. Including the desserts and one of the beers. You come out marinated in it, and the food is quite lovely, including the hottest, tastiest chilli I've ever managed to eat AND enjoy.
Nowt wrong with a good Ruby Murray. I'd like to thank Indian, Pakistan and Bangladesh for sharing a great cuisine with us.
Quote: mkl654321
(And does he even realize that there's no such thing as "curried garlic"? Lol.)
Are you joking???? I mix garlic and curry in many stirfry dishes, it calls for it in the recipe. Do you even know how to cook? What do you think that smell coming from Indian restaurants is? Italian meal balls?
Quote: EvenBobAre you joking???? I mix garlic and curry in many stirfry dishes, it calls for it in the recipe. Do you even know how to cook? What do you think that smell coming from Indian restaurants is? Italian meal balls?
It's possible to combine the two ingredients, but I repeat, there's no such thing as "curried garlic". There IS such a thing as "garlic curry".
And just because you mix garlic and curry in a stir-fry doesn't mean that the dish is called "curried garlic". But enough cooking semantics---I'm rather laugh at Jerry's smell-o-phone.
Quote: 7outlineawayI was in Hong Kong last week and took a day trip to Macau. So about $120 of that $2.1 billion was from me. Was worth the experience.
I saw one baccarat table at the Wynn where the posted limits were $5000 to $500,000 HKD. This was a table that was out in the open (visible from the main floor) on a Monday afternoon, and I wasn't explicitly scouring the whole place for the highest table I could find. So I'm sure they go even higher.
I think the only reasons American citizens would regularly travel to Asia to gamble are (1) they are of recent Asian descent and/or have strong business or family connections there and (2) they really, really like baccarat. Also, Americans would have to have some way to get around the US cash reporting laws, such as a bank account in Hong Kong the IRS can't trace. Furthermore, Macau has more gambling revenue, but the entire tourist industry seems much more developed in Vegas, and certainly much more geared to American tastes in Vegas.
The highest limit I've seen in a public room was in the Playboy room at the 3rd floor of the Sands. The minimum of every table there is HKD10,000 (USD1,500). Although the Sands gets its fair dose of VIP action, I have yet to see anyone play in the Playboy room; high rollers tend to play at the regular high limit tables or in private rooms. Except during Poker tournaments I rarely see westerners playing in Macau. Casinos there target Chinese customers since it isn't worth the trouble of investing in attracting foreigners. Although Casinos will take your foreign currencies, they will only pay you in Hong Kong dollars as they do not keep Euros and USD, making it very inconvenient for American and European high rollers.
Quote: mkl654321
And just because you mix garlic and curry in a stir-fry doesn't mean that the dish is called "curried garlic". .
Definiton of curried: 'Cooked or flavoured with curry' You put garlic and oil in a pan, add curry, you have curried garlic.
There you go, then. Anything else you want me to look up?
Is there an upper limit here? Macau has been growing by a net of 34% per year since 2002. Can this keep up for another decade when the high speed trains are running?
Macau revenue is still far less than all of America. America in 2007 took in $34.4 billion from commercial casinos and $92.27 billion from all sources (cards, Indian casinos, state lotteries, and charity). The population of China is over four times that of the USA, although many are very poor.
Will the American companies be cut out? I see that Sands proposal for two more casinos on the Cotai strip have been rejected. Will the Chinese simply block the other American companies?
I think it is very possible that China sees no particular advantage to opening this market up to further encroachment by US companies. They have a representative share of the two most luxurious companies, so why should they invite Harrah's or MGM-Resorts to set up additional casinos?
Quote: pacomartinWill the American companies be cut out? I see that Sands proposal for two more casinos on the Cotai strip have been rejected. Will the Chinese simply block the other American companies?
I think it is very possible that China sees no particular advantage to opening this market up to further encroachment by US companies. They have a representative share of the two most luxurious companies, so why should they invite Harrah's or MGM-Resorts to set up additional casinos?
Unlike, say the petroleum industry newly opening up in a country, it seems like the Chinese would catch on real fast to running gambling resorts and just do copycats if they have their own revenue source. Not much need for technical expertise, training and equipment. People ran private casnos out of their homes (maybe still do) --- it's not all that hard apparently.
20 Sociedade de Jogos de Macau (Stanley Ho's company founded in 1962)
5 Galaxy Casino, S.A.
3 Venetian Macau, S.A.
1 Wynn Resorts (Macau) S.A.
3 Melco Crown Jogos (Macau) S.A.
1 MGM Grand Paradise, S.A.
33 TOTAL
If the goal of the Chinese government was simply to break the monopoly of Stanley Ho, they may declare that the mission is accomplished and continue the expansion without Western companies.
In the year 2005 there were only three companies operating 17 casinos
15 Sociedade de Jogos de Macau (Stanley Ho's company founded in 1962)
1 Galaxy Casino, S.A.
1 Venetian Macau, S.A.
Comparison of Average Gambling Expenditures
of Visitors in 3 cities (2009)
City; Gaming Revenue ($bil.); Visitor Numbers (million); Average Gambling Expenditure
Macao 14.9; 22; $667
LV (Metro.) 8.8; 36; $243
Atlantic City 3.9; 30; $130
2009 US GDP per capita US$46381(0.5%), China:US$3678 (18%)
http://www.easg.org/media/file/vienna2010/presentations/Thursday/1600/P4/3_Zhonglu_Zeng.pdf
According to this research, somebody lost more than US$146.6 millions gambling in Macau! I believe this is more than anyone ever lost in Vegas.
Quote: HKrandom
According to this research, somebody lost more than US$146.6 millions gambling in Macau! I believe this is more than anyone ever lost in Vegas.
Excellent research paper, thank you for providing the link. Hard numbers on 93 whales are seldom seen the light of day.
Clearly gambling is much more a motivation for Macao's 22 million tourists.
There is no absolutely reliable data on largest losses by an individual, only anecdotes. Obviously no one wants data like that to get out since the casinos don't want to humiliate their whales, nor do they want them poached.
But unofficially Terrance Watanabe's loss of nearly $127 million in the course of about a year is considered the record loss at Vegas.
Quote: HKrandomWhile many companies share Macau's gambling market, MGM Grand Macau is co-owned by Stanley Ho's daughter and Melco Crown is also in partnership with Stanley Ho's son. One of the reasons why Macau's gambling revenues have grown so fast is because most of Macau's visitors are from Mainland China and they tend to spend most of their budget on gambling while most of Vegas's visitors spend less than half of theirs on gambling.
Comparison of Average Gambling Expenditures
of Visitors in 3 cities (2009)
City; Gaming Revenue ($bil.); Visitor Numbers (million); Average Gambling Expenditure
Macao 14.9; 22; $667
LV (Metro.) 8.8; 36; $243
Atlantic City 3.9; 30; $130
2009 US GDP per capita US$46381(0.5%), China:US$3678 (18%)
http://www.easg.org/media/file/vienna2010/presentations/Thursday/1600/P4/3_Zhonglu_Zeng.pdf
According to this research, somebody lost more than US$146.6 millions gambling in Macau! I believe this is more than anyone ever lost in Vegas.
This was a very interesting report. I note that the revenue numbers are quite large, but the year to year trend is flattening out. $20B doesn't seem to be feasible in the near future, but with 1% of the gamblers generating more than 70% of the revenue, there may still be room for growth. Anecdotal reports from other threads report many empty tables, so capacity doesn't seem to be a problem. I assume the stricter restrictions on travel between the mainland and Macao have had a dampening effect on the growth among lower tier (i.e., non-whale) players.
It was also interesting that almost as many of the high roller reports were from individuals who were gambling with stolen public monies, as were private business owners putting it all on the line.
I wonder how much Harrah's is charging for a round at their golf course in Macau? I imagine it would be quite a bit if they hope to make back any of their, "late to the party", investment.
Edit: Once again demonstrating how little I know about the Macau gaming market, reports today indicate Macau gaming exceeded $23B USD in 2010.
1 Las Vegas Strip - $5.55
2 Atlantic City, N.J. - $3.94
3 Chicagoland, Ind./Ill. - $2.09
4 Connecticut - $1.45
5 Detroit - $1.34
6 St. Louis, Mo./Ill. - $1.05
7 Tunica/Lula, Miss. - $1.00
8 Biloxi, Miss. - $0.83
9 Shreveport, La. - $0.78
10 Boulder Strip, Nev. - $0.77
11 Kansas City, Mo. (includes St. Joseph) - $0.76
12 Reno/Sparks, Nev. - $0.72
13 Lawrenceburg/Rising Sun/Belterra, Ind. - $0.69
14 Lake Charles, La. - $0.66
15 New Orleans, La. - $0.65
16 Black Hawk/Central City, Colo. - $0.60
17 Yonkers, N.Y. - $0.54
18 Downtown Las Vegas, Nev. - $0.52
19 Laughlin, Nev. - $0.49
20 Council Bluffs, Iowa - $0.43
The remarkable thing is that Macao is doing that with only 22 million visitors. As the transportation infrastructure takes a drastic improvement in China in the next two years with several high speed train lines opening for operations who knows what their potential is? Macao should easily surpass the commercial casino revenue in the entire USA, and possibly by the end of the decade the commercial + indian casino + lotteries revenue.
Can the vacation island of Hainan or the tourist city of Hangzhou (near Shanghai) be far behind? What about Vietnam, Taiwan or South Korea?
HKrandom cited a report that indicated 1% of the players were generating more than 70% of the revenue in Macau. That means 220,000 individuals are leaving $16.38B in those 30 casinos. This is an average loss of $74,454 USD. I guess when you look at it that way, it's not so bad on a per whale basis.
Someone has to be winning too, or I am sure the visitor numbers would drop quickly. Are there any reports of big winners? Variance works against the casinos too, and I recall a report that MGM's bottom line once took a hit from an Australian whale.
Quote: AyecarumbaFor 30 casinos in Macau to generate these revenue numbers, one would expect the tables to be packed 24/7 with high rollers. Yet, the reports we have received on this discussion board indicate that many Macau casinos have large numbers of tables un/under used. 22M visitors works out to an average of 733k per casino (or 2k visitors each day, every day of the year). Granted, some of the casinos are huge, but others are small. Does this number seem large compared to a typical Las Vegas joint? There has to be a maximum capacity for bodies in the space available. Are they approaching the limit?
HKrandom cited a report that indicated 1% of the players were generating more than 70% of the revenue in Macau. That means 220,000 individuals are leaving $16.38B in those 30 casinos. This is an average loss of $74,454 USD. I guess when you look at it that way, it's not so bad on a per whale basis.
Someone has to be winning too, or I am sure the visitor numbers would drop quickly. Are there any reports of big winners? Variance works against the casinos too, and I recall a report that MGM's bottom line once took a hit from an Australian whale.
A total of 71% is VIP baccarat, and another 19% is regular baccarat, with all other betting constituting the remaining 10%.
It is a reasonable assumption that the VIP baccarat players are only 1% of the total number of gamblers which leads to the number cited above. But it seems that many of these VIP players are playing with syndicated money and not their own cash.
There are now 33 casinos in Macau.
Even a small casino in Macau is banking pretty big money. S.J.M. is averaging over $363 million for each of their 20 casinos for 2010, and they have the oldest and smallest ones and the only ones that were constructed as early as 1970. The Wynn casino in Macau is taking in about $4 billion while the other twelve foreign casinos are averaging $1 billion apiece.
In contrast the 23 major casinos on the strip (which individually make over $72 million per year) are averaging $231 million apiece as of latest numbers.
Of course some players are winning big, but I doubt that you would see much accurate information on an open website.
Sociedade de Turismo e Diversões de Macao -20
Galaxy Casino, S.A.-5
Melco Crown Jogos (Macau) S.A. -3
Venetian Macau, S.A.-3
Wynn Resorts (Macau) S.A. -1
MGM Grand Paradise, S.A. -1
There were casinos in Macau for many years before the Mega resorts opened, and I assume, a similar number of Asian whales. Why the huge numbers now? Is it mostly new money due to the Chinese economic boom, or are these big players who would come to Las Vegas, but now have a satisfactory local destination? Even syndicate backed players could have made the trip to L.V. before. Is it that they did not have the funds (economic) before, or was L.V. just too far/expensive (access)?
I guess the big question is, how can Las Vegas (as a destination) capture some of this action? It seems like there is plenty to go around, and anyone who can get a pass from the Mainland to Macao should be able to get a visa to the USA... or is it more difficult than that?
* 26-30 October 2001, the eight-member “Casino Concessions Committee” was set up under the Executive’s Order. It was responsible for coordinating work in respect to the tendering process and making recommendations to the Chief Executive once the concessions were granted.
* 2 November-7 December 2001. There were a total of 21 bidding proposals received
* 31 December 2001, the Macao SAR decided to grant out 3 gaming concessions
* 8 February 2002 concession was granted to
---- Sociedade de Jogos de Macau (“SJM”), a subsidiary of STDM,
---- Galaxy Casino, S.A. (“Galaxy”), and
---- Wynn Resorts (Macao) S.A. (“Wynn”).
* The concession contracts for the operation of casino games of fortune were signed on 28 March, 24 and 26 June 2002 respectively.
* May 2004, the first casino of Venetian, Casino Sands, was opened. It was the first ever gaming investment project developed by an American company in Asia.
* Also in 2004 the Galaxy’s first project, Casino Waldo, also commenced operations.
* Wynn, its first casino hotel had the stone-laying ceremony in June 2004 and celebrated its grand opening in September 2006.
* The Melco PBL got control of the Mocha slot lounges in September 2006 and its first casino opened in May 2007.
* December 2007, MGM’s first casino also entered into operation.
Quote: Ayecarumba
I guess the big question is, how can Las Vegas (as a destination) capture some of this action? It seems like there is plenty to go around, and anyone who can get a pass from the Mainland to Macao should be able to get a visa to the USA... or is it more difficult than that?
Well Las Vegas still has amazing months during Chinese New Year's. With the massive difference in tax rates (Macao 39% and Nevada like 7%) it was worth bringing the high rollers to Vegas. But that advantage has been seriously undermined by Singapore (about 15%), and presumably will continue to be broken by Vietnam or other countries. We'll just have to wait until February to see if Singapore has completely undercut Vegas for Chinese New Years. Of course MGM-Resorts and Ceasars do not have significant properties in Asia, so it looks as if they want a piece of the action they will have to fly the gamblers to Vegas.
It will be interesting to see how this turns out.
Quote: HKrandomhttp://blogs.forbes.com/robertolsen/2011/01/02/casino-kings-succession-plan-for-17-children/
It will be interesting to see how this turns out.
The man is age 89. It is probably better to try something while he is alive, then to start a war when he is dead.
"Kirk" Kerkorian went from $16 billion down to $3 billion in the last two years, but at the age of 93 he seems relatively sanguine.
Charles M. Schwab who made his fortune in Bethlehem PA was one of the wealthiest men of the industrial era. He became notorious for his "fast lane" lifestyle including opulent parties, high stakes gambling, and a string of extramarital affairs producing at least one child out of wedlock. The affairs and the out-of-wedlock child soured his relationship with his wife. He became an international celebrity when he "broke the bank" at Monte Carlo and traveled in a $100,000 private rail car named "Loretto". His 75 room Manhattan home grandest and most ambitious house ever built on the island. He lost all of his money in 1929, and spent the last ten years of his life in a one bedroom apartment.
I doubt that Ho or Kerkorian will live in poverty.
Quote: gogI read somewhere that the Chinese government is severely limiting its people travelling to Macau for fear of money flowing out into foreign owned casinos, does anyone know more about this? Will it hurt Macau's bottom line?
I believe that your information is dated. The travel restrictions have been lifted. The concern was more about graft and corruption where money was being stolen by government employees to finance gambling weekends. I think the Chinese will honor their arrangements made so far, but there is signs that they will limit future growth by denying more licenses. Sands Corporation was denied two licenses for the Cotai strip.
It is better to have the foreign corporations in Macau and tax them at 38% then to have them all set up in Vietnam.
The yearly record of $23.4 billion for 2010 is being exceeded already this year. January exceeded $2.32 billion, and the aforementioned single day record was broken.
The 2007 USA nationwide revenue for all commercial casinos is $34.41 billion in 2007. Possibly within a few years Macau may exceed revenue for the entire USA commercial casinos.
Direct Visitor Spending in NYC in 2010: $31.0 billion.
Union Gaming Group Principal Grant Govertsen, who is based in Macau., estimated Macau's casinos could see full-year gaming revenues of $28.7 billion. If we include non-gaming revenue, they are closing in on direct visitor spending in NYC in 2010 of $31.0 billion.
Good thing that Rio is getting a Whopper Bar (a Burger King that serves beer). That should even up the playing field.
I guess we will be catching up with Macau real soon now.
By the way, there is one thing that concerns me. Just how reliable are all these figures from the Orient? I mean... out there getting some official figures, isn't that a matter of who you bribe and how much you pay? If someone were to come along and pay a higher bribe would the figures go higher?
I didn't know that Tunica was a larger market than Biloxi and that each was larger than downtown Vegas.
No wonder Vegas is hurting.
People are really doing their gambling elsewhere.
Those cotton fields in Tunica are not much of a draw for tourists. And the much hyped discount shopping mall near Tunica ain't much either. So why do Vegas casinos invest in all the hoopla about swimming pools that double as nightclubs. There is a good deal of money being made amidst cotton fields.
Quote: FleaStiffJust how reliable are all these figures from the Orient? I mean... out there getting some official figures, isn't that a matter of who you bribe and how much you pay? If someone were to come along and pay a higher bribe would the figures go higher?
Revenue figures are reported by the Macau Gaming Inspection and Coordination Bureau , the official governing body.
While the gaming revenue numbers seem massive for one area, they are still below the nationwide USA take for all the commercial casinos in the country. If you include lotteries, Indian casinos, bingo halls, and horse racing the USA is still way ahead. China is still well over four times the population of the USA.
It is just that legal gambling for the whole country is in a single city.
===========================
Tunica is the 7th biggest gambling market in the USA according to American Gaming Association. Downtown Las Vegas is 18th.
CASINO MARKET 2009 ANNUAL REVENUES
1 Las Vegas Strip $5.550 billion
2 Atlantic City, N.J. $3.943 billion
3 Chicagoland, Ind./Ill. $2.092 billion
4 Connecticut $1.448 billion
5 Detroit $1.339 billion
6 St. Louis, Mo./Ill. $1.050 billion
7 Tunica/Lula, Miss. $997.02 million
8 Biloxi, Miss. $833.50 million
9 Shreveport, La. $779.65 million
10 Boulder Strip, Nev. $774.33 million
11 Kansas City, Mo. (includes St. Joseph) $758.02 million
12 Reno/Sparks, Nev. $715.23 million
13 Lawrenceburg/Rising Sun/Belterra, Ind. $691.20 million
14 Lake Charles, La. $662.56 million
15 New Orleans, La. $653.05 million
16 Black Hawk/Central City, Colo. $596.30 million
17 Yonkers, N.Y. $540.50 million
18 Downtown Las Vegas, Nev. $523.82 million
19 Laughlin, Nev. $492.51 million
20 Council Bluffs, Iowa $430.71 million
Source: The Innovation Group (5/1
