Casino Competition In Macau Heats Up As Revenues Grow

Macau has already become the biggest casino area in the world as far as revenue goes. That fact has not stopped the people who are running casinos in Macau from thinking =even bigger.

Stanley Ho is so bent on re-establishing himself as the casino gambling kingpin that he once was in the area, that he has gone public with his SJM Holdings. While the company is down thirteen percent since trading has begun, it already has raised $494 million.

Ho plans on taking that money and combining it with some of his own to create a $1.54 billion casino and hotel. The project will be on the site of the current Lisboa, and is expected to be the biggest and most elaborate casino and hotel of its kind.

This is a move that Ho has been forced into if he intends on competing with some of the casinos that have been built in recent years. Las Vegas companies have invaded the area, helping create what is now the largest gambling operation on the planet.

Macau, in the past two years, has had their combined casino gambling revenue jump 80 percent. The revenue generated is more than both Las Vegas and Atlantic City's put together. With that much money circulating, Ho has made it a priority to build the biggest and best casino.

Las Vegas Sands is right behind Ho. They have two casinos in Macau and currently owns twenty one percent of the revenue being generated from casino gambling. SJM, Ho's company, owns twenty nine percent of the market's revenue.

August 18, 2008
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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