Macau November Gambling Revenue Up 33% On Year At MOP23.06 Billion
December 01 2011 - 1:35AM
Dow Jones News
Gambling revenue in Macau rose 33% in November from a year
earlier, government statistics showed Thursday, as visitors from
mainland China continued to drive growth.
Macau, the only place in China where casino gambling is legal,
has seen gambling revenue soar since the end of 2009 as players
keep placing bets regardless of China's tightening measures and
local government policies aimed at slowing growth to a more
measured pace.
Gambling revenue in the Chinese territory rose to MOP23.06
billion (US$2.88 billion) last month, up from MOP17.35 billion a
year earlier, according to data from Macau's Gaming Inspection and
Coordination Bureau. The haul was 14% lower from October's record
MOP26.85 billion, which was boosted by China's golden week
holidays.
The Hong Kong-listed shares of Macau's casino operators were
trading between 5.5% and 10.2% higher, with Galaxy Entertainment
Group Ltd. (0027.HK) leading the way rising to HK$15.82 at 0658GMT.
The benchmark Hang Seng Index was up 5.4%.
-By Kate O'Keeffe, Dow Jones Newswires; 852-2802-7002;
kathryn.okeeffe@dowjones.com