Macau Casino A Gold Mine For Melco Crown In First Month

Melco Crown Entertainment has been under the same financial stress as other casino operators in the world over the past couple of years. Their new casino in Macau is helping to ease some of that burden.

The company's Macau casino has pulled in over $1.94 billion in rolling chip volume for the first month. The City of Dreams casino resort has attracted 1.2 million people in the month, averaging over 41,000 visitors a day.

"This is a tremendous start for City of Dreams in terms of overall volume," said observer William Nelson, "whether they can keep up those kind of numbers in a weak economy will be the question going forward, but there is no doubt people are loving the facilities."

Macau had become the gambling capital of the world, surpassing Las Vegas, Nevada. In the past year, however, gambling revenue has dropped significantly. That is mainly due to the Chinese government placing limits on the amount of visits a citizen can make from the mainland.

Las Vegas has not exactly taken advantage of Macau's unfortunate circumstances. Nevada casinos are in the middle of one of their worst stretches in casino industry history. They have had double digit revenue decreases for several months in a row, and there is no end in sight.

The Tropicana, once one of the premiere casinos on the Vegas Strip, just emerged from bankruptcy with new ownership. The new owners have vowed to renovate the casino and make it an attractive option once again for gamblers.

July 3, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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