{"id":8659,"date":"2011-05-03T04:05:07","date_gmt":"2011-05-03T04:05:07","guid":{"rendered":""},"modified":"2011-05-03T04:05:07","modified_gmt":"2011-05-03T04:05:07","slug":"Macau-Gambling-Revenue-Surges-45-","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=8659","title":{"rendered":"Macau Gambling Revenue Surges 45%"},"content":{"rendered":"

Gambling revenue in Macau rose 45% in April from a year earlier, as mainland Chinese visitors to the world’s largest gambling market helped push the results to a third straight monthly record. Macau is the only place in China where casinos are legal. Gambling-revenue growth in the territory has been on a tear since the end of 2009, despite local government policies to slow the booming industry and encourage a more measured pace of growth.<\/strong><\/p>\n

Gambling revenue in Macau rose to 20.51 billion Macanese patacas (US$2.56 billion) last month, from 14.19 billion patacas a year earlier, Macau’s Gaming Inspection and Coordination Bureau said Tuesday. The total for April surpassed the previous monthly record of 20.09 billion patacas, hit just a month earlier in March. Last month’s growth follows blistering year-to-year increases of 48% in both February and March, and a 58% surge for all of last year.<\/p>\n

“The 20.5 billion patacas reported for April will likely be seen as good but not great,” said RBS analyst Philip Tulk. “While it represents another all-time record revenue month for Macau, we had seen estimates as high as 22.5 billion patacas.” Mr. Tulk added that RBS doesn’t plan to change its 2011 Macau forecast as a result of the latest data. The firm continues to expect a nearly 29% year-to-year rise in the territory’s gambling revenue this year.<\/strong><\/p>\n

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