Macau January Casino Revenue Grows 33% to US$ 2.3 Billion
February 5th, 2011 at 12:44:12 AM
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Macau, China, 2 Feb - Macau's gaming gross revenue continued to grow last month, rising 33.2 percent year-on-year to 18.57 billion patacas ( US$ 2.3 billion), the third highest monthly amount on record, after December and October last year according to figures released by the Gaming Inspection and Coordination Bureau (DICJ) Tuesday.
However, last month's rate of growth was the lowest in over a year.
In December, the growth rate stood at 66.4 percent. For the whole of last year, the casino sector's gross receipts leaped 57.8 percent to 188.3 billion patacas, mostly boosted by robust demand from mainland Chinese and Hong Kong gamblers.
Macau's casino gross receipts last year were more than four times greater than the US$5.62 billion (44.96 billion patacas) for the Las Vegas Strip.
Meanwhile, the Macau government's income from direct gaming taxes in the first 11 months of last year rose 56.9 percent year-on-year to 58.8 billion patacas, accounting for 80.1 percent of the government's total revenue during that period, according to the Finance Services Bureau (DSF).
In the same period of 2009, income from gaming taxes accounted for 71.3 percent of the government's total receipts.
Macau's casinos pay 35 percent of their gross receipts as direct tax to the government. An additional four to five percent of their gross receipts are paid into the public coffers to support social, cultural and other public causes.
(MacauNews)
However, last month's rate of growth was the lowest in over a year.
In December, the growth rate stood at 66.4 percent. For the whole of last year, the casino sector's gross receipts leaped 57.8 percent to 188.3 billion patacas, mostly boosted by robust demand from mainland Chinese and Hong Kong gamblers.
Macau's casino gross receipts last year were more than four times greater than the US$5.62 billion (44.96 billion patacas) for the Las Vegas Strip.
Meanwhile, the Macau government's income from direct gaming taxes in the first 11 months of last year rose 56.9 percent year-on-year to 58.8 billion patacas, accounting for 80.1 percent of the government's total revenue during that period, according to the Finance Services Bureau (DSF).
In the same period of 2009, income from gaming taxes accounted for 71.3 percent of the government's total receipts.
Macau's casinos pay 35 percent of their gross receipts as direct tax to the government. An additional four to five percent of their gross receipts are paid into the public coffers to support social, cultural and other public causes.
(MacauNews)
February 5th, 2011 at 10:35:59 AM
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Quote: PandoMacau, China, 2 Feb - However, last month's rate of growth was the lowest in over a year.
Sometimes you have to think about this growth in dollars instead of percentage points. After two amazing years, it would be difficult to keep up those percentages. The dollar amount is still large.
Sands Corporation only earned less than 8% of their gaming revenue in Las Vegas last quarter.
February 5th, 2011 at 10:57:28 AM
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The funny thing about these reports is that no one in Macau uses patacas; it's all HKD. I'm not even sure you can buy in at a table there using patacas.
February 5th, 2011 at 8:37:10 PM
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Quote: 7outlineawayThe funny thing about these reports is that no one in Macau uses patacas; it's all HKD. I'm not even sure you can buy in at a table there using patacas.
Macau Pacatas are the local currency and have an identical value to HK$.
But all casino's use only HK$, at tables and in slots.
The casino restaurants accept Pacata's
Of course the cage will cash any foreign currency into HK$ as necessary.
The rates are good too, so I imagine they may be regulated.
I suppose because the report is an official government one, they quote Macau pacata's.
