Gambling revenue in Macau, the world's largest gaming market, has registered another high record last month, showing a 42.2% increase in revenue to MOP 24.31 billion (US $3.03 billion) up from 17.08 billion patacas a year earlier. It was for the fourth consecutive month that Macau's gaming industry has set a new monthly gross revenue record.
Macau represents the world's largest gambling resort and China's only legal casino destination. Since the end of 2009, Macau has continually grown in visitors and it managed to overtake the Las Vegas Strip. In 2010, it ranked in about four times the Strip's gambling revenue and it is expected to grow to five times the size of the Strip's this year.
Last month's impressive results were also helped by the beginning of the month's week-long national holiday and by the opening of a new $2 billion resort, called the Galaxy Macau on May 15th.
“They have beaten my expectations. We will need to have another look at our gaming revenue forecasts for the full year on the back of this. I would be surprised if gaming revenue growth reaches this level until maybe October. Five out of the last six years we have seen a decline in June versus May. Obviously this year has the benefit of Galaxy Macau,” the RBS gaming analyst Philip Tulk stated.
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