Tuesday, 3 January 2012

Fact of the Day: Macau is Still Booming

The Macau landscape includes floral-shaped Grand Lisboa casino
Macau still continues to be the gambling destination of the world, with casino revenues surging 42 percent this year to a record 267.87 billion patacas (practically the same as Hong Kong dollars).

Gambling revenues in December rose 25 percent to 23.61 patacas according to government figures released Tuesday.

The overall yearly figure was a slight drop from last year's growth at 58 percent, but nevertheless defies the global economic slowdown.

While Macau's gambling revenues far surpass all the casinos in Las Vegas combined, the former Portuguese colony's non-gaming component only makes up less than 5 percent of the total revenue; in Las Vegas it's about 50 percent.

Casino operators are concerned the Chinese government is going to clamp down on visas to Macau since the vast majority of gamblers are from the mainland.

Are the good times coming to an end?

Perhaps not for Macau -- many Chinese gamblers seem to have a steadfast belief they are going to win back their money and more at the casino tables.

Should we tell them the truth or keep perpetuating that myth?

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