Originally Published: November 28, 2010, 04:01 AM

Macau gambling revenue hits record in October

Posted By Diego | Roullete-Strategy News | November 28, 2010, 04:01 AM |

Casino incomes in Macau China have grown tremendously over the past year. Studies show that revenues have risen an impressive 50% since October last year reaching 2.37 billion US dollars and exceeding expectations. Researchers had predicted just a 39% increase over the year. Macau is the biggest gambling market in the world and the strong growth which it has known over the past few years has boosted the turnover of many casino operators, for example Las Vegas Sands and Galaxy Entertainment Group and other casino stocks such as Melco Crown, Sand China and Wynn Macau are soon to follow suit.


Chinese prosperity an encouragement to gamblers
Aaron Fischer, CLSA's head of Asian gaming research attributes Macau's success to the country's recent prosperity "There's a general level of optimism in China that's translated into an appetite for gaming. . . At the same time, the individual operators are more willing to extend credit, so people are more willing to play."


However, some of the explanation for such impressive figures must be attributed to the Golden Week holiday during the month of October, because it is a time at which Chinese gamblers from all across the country have the opportunity to come together in Macau, the only place in China where casino gambling is actually legal. Rich clients, representing two thirds of all gamblers who come to Macau, are brought to Macau's many casinos by middlemen who offer them better credit terms in order to attract as many high rollers as they can in order to insure the best possible profit possible is made.


Macau is often compared to Las Vegas and right enough, of its six casino operators, two originated from the US (Sands and Wynn Resorts). However, China asserts its own companies such as Galaxy and SJM Holdings and both gambling centrals have worked together on operators such as MGM Mirag, bringing the gaming markets closer together.

Embed Casino incomes in Macau China have grown tremendously over the past year. Studies show that revenues have risen an impressive 50% since October last year reaching 2.37 billion US dollars and exceeding expectations. Researchers had predicted just a 39% increase over the year. <a href="http://www.onlinecasino.sg/macau/">Macau</a> is the biggest gambling market in the world and the strong growth which it has known over the past few years has boosted the turnover of many casino operators, for example <a href="http://www.onlinecasino.sg/las-vegas/">Las Vegas</a> Sands and Galaxy Entertainment Group and other casino stocks such as Melco Crown, Sand China and Wynn Macau are soon to follow suit. <br /> <br><br /> Chinese prosperity an encouragement to gamblers<br /> Aaron Fischer, CLSA's head of Asian gaming research attributes Macau's success to the country's recent prosperity "There's a general level of optimism in China that's translated into an appetite for gaming. . . At the same time, the individual operators are more willing to extend credit, so people are more willing to play." <br /> <br><br /> However, some of the explanation for such impressive figures must be attributed to the Golden Week holiday during the month of October, because it is a time at which Chinese gamblers from all across the country have the opportunity to come together in Macau, the only place in China where casino gambling is actually legal. Rich clients, representing two thirds of all gamblers who come to Macau, are brought to Macau's many casinos by middlemen who offer them better credit terms in order to attract as many high rollers as they can in order to insure the best possible profit possible is made. <br /> <br><br /> Macau is often compared to Las Vegas and right enough, of its six casino operators, two originated from the US (Sands and Wynn Resorts). However, China asserts its own companies such as Galaxy and SJM Holdings and both gambling centrals have worked together on operators such as MGM Mirag, bringing the gaming markets closer together.<br /><a href='http://www.roulleteplay.com'>Roullete</a> | <a href='http://www.roulleteplay.com/Roullete-Strategy/Macau-gambling-revenue-hits-record-in-October'>Macau gambling revenue hits record in October</a>