Macau 2011 Gambling Revenue Up 42%, At Record MOP267.87 Billion
January 03 2012 - 1:51AM
Dow Jones News
Gambling revenue in Macau rose 25% in December from a year
earlier, government statistics showed Tuesday, capping off a year
of incredible growth fuelled by players from mainland China despite
intensifying concerns about the effects of credit-tightening or an
economic slowdown there.
Macau, the only place in China where casino gambling is legal,
saw gambling revenue soar 42% in 2011 to a record MOP267.87 billion
(US$33.47 billion). The Chinese territory remains the largest
gambling center in the world, with that figure over five times the
size of the individual hauls analysts forecast the Las Vegas Strip
and new Asian rival Singapore to record in 2011.
Revenue growth has been on a tear since the end of 2009 as
players have continued to place 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 MOP23.61
billion in December, up from MOP18.88 billion a year earlier,
according to data from Macau's Gaming Inspection and Coordination
Bureau.
-By Kate O'Keeffe, Dow Jones Newswires; 852-2802-7002;
kathryn.okeeffe@dowjones.com