Gambling In Macau Shows 3rd Quarter Upturn

by Trevor Green
( May 10 2009 13:59:6 )
Macau’s casino revenue has reached new heights in the three successive months of 2009

With the economy showing a slight recovery in growth despite the comparative recovery in loss from the economic slowdown geared up by the global recession and the visa controls imposed on mainland Chinese visitors.  Though the revenue is not as good as in past years, it a little better from the reported worse trends.

The Casino revenue in the former Portuguese colony has been down for three straight quarters. 

According to statistics on the Macau Gaming Inspection and Co-ordination Bureau Web site, the revenues of the casino from 24.1 billion patacas in the final three months of 2008 has increased to 8.1 percent which resulted in 26 billion patacas or $3.2 billion in the first quarter.

Last year the casinos carted a record of 29.8 billion patacas as a result of which the revenue plunged down to 13 percent and the packers anticipate that the Macau casino would surely bring in $3b in trumps.

The Macau is notably the only legal Chinese region where gambling can be practiced legally.  There is however a decline in trends when compared with well to do days, due to the financial down turn and the visa controls imposed by the Chinese government which aim at steps to limit gambling by their citizens, the only legal casino found in Chinese region. The gambling establishments are at present accessed by more of the mainland citizens than foreign visitors.

Government officials from Guangdong, Macau and Hong Kong met in February to ease visa reins.

The casino operator, Las Vegas Sands Corp., who had temporarily stopped the construction on its projects in Macau in November, has reported that they would continue with their process this month on the optimistic note of the growing casino revenue.

 

 


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