Sunday, 6 November 2011

Fact of the Day: Macau still tops Las Vegas in Casino Takings

View of Galaxy Macau from the Banyan Tree
With Greece and Italy falling apart economically and jobs not quite picking up in the United States, Macau is still going strong as the gambling mecca of the world.

Last month the former Portuguese colony set yet another record, soaring 42.3 percent from a year earlier to 26.8 billion patacas ($3.3 billion).

Mainlanders flocked to Macau particularly during Golden Week, October 1-7 and many flush with cash they are eager to burn off, head to the baccarat tables.

October's figures marked the city's sixth new monthly record in the past nine months, beating the record set in August by 8.4 percent.

An interesting comparison is that the $3.3 billion is almost the same as what Macau hauled in for the entire 2003, and surpassed the $3 billion hauled in by Las Vegas in the first six months of this year.

Stanley Ho's conglomerate SJM Holdings continues to lead the casino pack (29 percent share), followed by Galaxy Entertainment (22 percent), Melco Crown Entertainment (15 percent), Sands China (14 percent), Wynn Macau (13 percent) and MGM China (11 percent). The percentages are all approximate.

For those not familiar with the Macau casino scene, Melco and MGM are run by Stanley Ho's children, so the family's takings are even larger.

Many of the high rollers come to Macau on junkets and operators have ingenious ways to help the gamblers get access to lots of cash to burn.

However, with the economic slowdown also hitting China, the demand for junkets could slow down in the coming months.

It definitely won't stop to a trickle, but in relation to Las Vegas, very happy days are still in Macau.

1 comment:

  1. but the sad fact is most of the money there are dirty just of laundering. pity the poor and oppressed.

    ReplyDelete