Macau gaming records again
May 4th, 2011 at 1:35:43 AM
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Macau, China, 4 May - Gambling revenue in Macau rose 45 percent in April from a year earlier according to data released Tuesday by the Gaming Inspection and Coordination Bureau.
The casino sector’s gross receipts rose 44.6 percent year-on-year to 20.5 billion patacas (US$ 2.56 billion). Month-to-month, April’s gross gaming receipts grew 2.1 percent.
April’s gross receipts were the third straight monthly record for Macau’s casinos.
Last month's growth follows blistering year-to-year increases of 48 percent in both February and March, and a 58 percent surge for all of last year.
Last month included the long Easter holiday weekend that was a four-day public holiday in Hong Kong .
Analysts quoted by The Macau Post Daily said that strong mass-market trends, combined with an increase in VIP gambling, helped spur the record revenue growth. Analysts said that last month’s record receipts boded well for the opening of Galaxy Macau in Cotai on May 15.
JP Morgan gaming analyst Joe Greff was quoted as saying that he expects Macau’s casino sector to grow more than 30 percent this year, following last year’s record casino gross receipts of 188.3 billion patacas, a year-on-year growth of 57.8 percent.
For the first four months of this year, Macau ’s casino gross receipts grew 43.3 percent to 79 billion patacas – almost as much as those for the whole of 2007, which stood at 83 billion patacas.(MacauNews/Gaming)
From Macau News
http://www.macaunews.com.mo/index.php?option=com_news_portal&Itemid=45
The casino sector’s gross receipts rose 44.6 percent year-on-year to 20.5 billion patacas (US$ 2.56 billion). Month-to-month, April’s gross gaming receipts grew 2.1 percent.
April’s gross receipts were the third straight monthly record for Macau’s casinos.
Last month's growth follows blistering year-to-year increases of 48 percent in both February and March, and a 58 percent surge for all of last year.
Last month included the long Easter holiday weekend that was a four-day public holiday in Hong Kong .
Analysts quoted by The Macau Post Daily said that strong mass-market trends, combined with an increase in VIP gambling, helped spur the record revenue growth. Analysts said that last month’s record receipts boded well for the opening of Galaxy Macau in Cotai on May 15.
JP Morgan gaming analyst Joe Greff was quoted as saying that he expects Macau’s casino sector to grow more than 30 percent this year, following last year’s record casino gross receipts of 188.3 billion patacas, a year-on-year growth of 57.8 percent.
For the first four months of this year, Macau ’s casino gross receipts grew 43.3 percent to 79 billion patacas – almost as much as those for the whole of 2007, which stood at 83 billion patacas.(MacauNews/Gaming)
From Macau News
http://www.macaunews.com.mo/index.php?option=com_news_portal&Itemid=45
May 4th, 2011 at 3:33:57 AM
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China went thru some privatization stuff, has factories that are such sweat shops workers commit suicide, has entrenched corruption and a population that are notoriously addicted to gambling. So yes, Macau will be making and breaking records for the next several years.
May 4th, 2011 at 10:37:34 AM
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Quote: PandoJP Morgan gaming analyst Joe Greff was quoted as saying that he expects Macau’s casino sector to grow more than 30 percent this year, following last year’s record casino gross receipts of 188.3 billion patacas, a year-on-year growth of 57.8 percent.
As I understand it, the Chinese will have the coastal network of high speed rail done this year, allowing hundreds of millions of people from Shanghai and along the coast with even easier access into Hong Kong and over to Macau by ferry.
The ultra high speed lines through the center of the country will bring people in from the north (including Beijing) by next year.
