Tag: Macau Casino Revenue
Macau sets record with $4.8Billion in February Casino Revenue
Bloomberg – Macau casino revenue climbed 40 percent to a record in February, beating estimates, after a jump in mainland Chinese visitors to the world’s largest gambling hub during the Chinese New Year. Casino revenue in the Chinese city rose to 38 billion patacas ($4.8 billion), exceeding the 36 billion patacas median of seven analyst estimates in a Bloomberg News survey. The previous record was 36.5 billion patacas in October last year. Casino operators such as Sands China Ltd. (1928) and Galaxy Entertainment Group Ltd. (27) have been adding shopping malls, entertainment shows and hotel rooms to draw mainland tourists…
Macau gambling revenue climbs in September despite typhoon
Reuters – Gambling revenue in China’s casino hub of Macau rose 21.4 percent in September year-on-year, on robust spending by affluent gamblers despite a typhoon that hit southern China at the end of the month that disrupted travel. September’s revenue came in at 28.96 billion patacas ($3.63 billion) according to government data released on Thursday. The figure was at the low end of analyst estimates who forecasted September growth in the world’s biggest gambling market to rise 22-25 percent. Located on China’s southern coast, Macau’s gambling revenues are highly dependent on the domestic market with more than two-thirds of tourists…
Macau Gambling Revenue Jumps, Lifting Vegas Casinos
From Investors – Shares of Las Vegas-based casinos rose Monday after a report that table gambling revenue in Macau for July is on track to climb 19% from the same month a year ago. Sterne Agee said it expects gross gambling revenue take for Vegas casinos Las Vegas Sands (LVS), MGM Resorts International (MGM) and Wynn Resorts (WYNN), and the three Hong Kong casinos with operations in Macau, to total $3.68 billion. That would continue a hot streak for Macau, the world’s largest and fastest-growing casino gambling locale. The report comes on the heels of an upbeat report last week for…