Casino Gambling Web, Ltd.
Play Free Casino Games Now!
The Top Online Casino Gambling News Reporting Site Since 2002!

August Gaming Revenue Rebounds In Macau Casinos

Macau has become the top gaming destination in the world, and in the past three years, revenue has exploded at Macau casinos while other areas of the world deal with one of the worst financial meltdowns in history.

Over the past few months, Macau casinos were winning money, but not at the rate they had in previous years, and analysts started predicting that the declines could continue into the Fall and Winter months. That was not the case, as revenue rebounded in August, rising 5.5% from the same period in 2011. Total revenue for the casinos in August totaled $3.3 billion.

In 2010 and 2011, revenue has risen sometimes upwards of 70% from the year before. Those figures, according to analysts, were unsustainable, and the increases had dropped in June and July to single digits. August, however, brought new hope that the gaming mecca could continue to produce large revenue at their prestigious casinos.

"Macau is the closest thing that Asians have to Las Vegas, and they have built their gaming industry to the point that visitors are now coming from the US to gamble, instead of Asians making their way to Nevada," said Gaming Analyst Brad Dawkins. "Macau has flipped the script on casino gambling."

Macau's success has not come without obstacles. Two years ago, existing casino owners and the Macau government agreed to halt growth in the industry. The government was concerned that Macau had become too reliant on gaming, and believed they needed to diversify the economy.

Las Vegas gaming companies that took a chance on Macau have now started to branch out to different areas in Asia. Singapore has authorized several new casinos, and Malaysia has done the same.

As for Macau, the 5.5% increase in gaming revenue was a relief after only a 1.5% increase in July. The July revenue growth was the lowest it had been since 2009.

The Chinese government helped the rapid growth of the past few years when they lifted visa restrictions for mainland China residents. The majority of Macau's casino revenue comes from the mainland.

Previous Casino Gambling News Articles

Maine Casino Outperforms Expectations In First Two Months

Terms & Conditions | Gambling Problems | © 2002 - 2020 Casino Gambling Web, Ltd.