Macau January Casino Revenue Grows 33% to $2.3 Billion
Casino revenue in Macau, the world’s largest casino hub, surged 33 percent in January as Chinese gamblers placed more bets on baccarat and other card games.
Gambling revenue for the six companies that run casinos in Macau, the only place in China where they’re legal, rose to 18.6 billion patacas ($2.3 billion) last month from 13.9 billion patacas a year ago, according to data from Macau’s Gaming Inspection and Coordination Bureau.
China, which contributes more than half the number of Macau’s tourist arrivals, may post economic growth of 9.5 percent this year, according to the median estimate of eight economists surveyed by Bloomberg. Macau’s visitor arrivals rose 15 percent to 25 million last year with 83 percent coming from mainland China and Hong Kong, according to government data compiled by Bloomberg.
Casino gambling revenue in Macau rose 58 percent to 188.3 billion patacas last year. That’s more than four times greater than the $5.62 billion for the Las Vegas Strip, according to government data.
Wynn Macau Ltd., the Hong Kong-listed casino unit of Wynn Resorts Ltd., fell 3.7 percent to HK$20.85 at the 4 p.m. close of trading in Hong Kong, while billionaire Stanley Ho’s SJM Holdings Ltd. slid 3.7 percent to HK$12.58.
Sands China Ltd., the local unit of billionaire Sheldon Adelson’s Las Vegas-based company, declined 1.5 percent.
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