Macau New Year Casino Revenue Rises 35%

Reported by Bloomberg, the world largest gambling city, Macau got 35% revenue spark in January 2012. It beat experts’ estimation as Chinese tourists spent more during the Chinese New Year holiday.

“Revenue at casinos in Macau, the only place in China where they are legal, jumped 35 percent to 25 billion patacas ($3.13 billion) in January, according to data from Macau’s Gaming Inspection and Coordination Bureau. That was higher than the median estimate of 24 billion patacas from seven analysts surveyed by Bloomberg News.”

Analyst Gary Pinge comments “Better infrastructure is drawing more Chinese tourists to Macau, benefiting the whole industry,” He predicts it will be slower in growth as high-stake will be hard to raise after January.

Sands China (Asia’s biggest casino operator by market value) announced it had rose by 5% to 6% to more than 1 million visitors during the New Year holiday from Jan. 23 to Jan. 29. Other casinos such MGM China Holdings Ltd. advanced 0.9%, Galaxy Entertainment Group Ltd. jumped 1.8 % , Wynn Macau Ltd. moved 0.2 % higher and Melco Crown Entertainment Ltd. gained 1.4%.

Recource: Bloomberg, Vinicy Chan.

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