Macau Gambling Revenues Up
Recent reports from the Macau have indicated that Gambling Revenues are up by 1.5% over the same period last year. This figure is in stark contrast to the decline that we have seen in revenues in North America and in particular in Las Vegas.
It is also one of the reasons as to why North American Gambling companies are positioning themselves in this Chinese enclave. Macau is the only area in China where gambling is legal and subsequently receives a lot of attention.
According to reports revenue for the first 7 months of this year is 17% higher than in the same period last year. The outlook for Macau seems to be that growth will be steady rather than spectacular.
There are a number of reasons for this. China is also starting to be affected by the economic storm that engulfed the US and Europe. This would affect play by VIP players which makes up 80% of business in the enclave.
Asian players are also shifting online. More players are able to play Asian Casino games from the comfort of their own homes and are doing so.
Other Asian countries are also building or have built gambling complexes in their own countries. The most notable recent addition is the Genting Casino complex in Singapore. Genting are the largest gambling group in the world with significant interest’s world wide. In the UK they run the land based Genting Casino group as well as offer online play at Genting Online Casino.
Whilst the outlook is for steady growth in Macau rather than the massive increases we have seen in previous years, it is still making 5 times more in each financial year than Las Vegas. I guess that puts things into perspective.