by Christopher Freeburn | November 1, 2013 3:34 pm
Gamblers from mainland China sent casino revenue in Macau soaring last month.
Chinese bettors traveled to the gaming center during Golden Week vacations, driving monthly casino revenue up 32% to $4.57 billion. The record-setting figure matched analysts’ estimates for October casino revenue, Bloomberg noted.
The number of visitors from mainland China rose 12.1% during the holiday, compared to the prior year. Macau has seen steadily rising gambling revenue this year. Through October, casino revenues totaled about $37.2 billion, up 18% from last year.
Home to a number of casinos from leading international operators including Sands (LVS), MGM (MGM) and Wynn (WYNN), Macau generates six times the annual gambling revenue of Las Vegas’ famed Strip.
Earlier this year, U.S. authorities raised concerns about some of the practices used in VIP rooms a Macau casinos.
Source URL: http://investorplace.com/2013/11/record-month-macau-casinos/
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