May Gambling At Macau Casinos Nearly Doubles From Last Year

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If anyone thought that the Macau casino gambling industry was going to be short-lived, those people had better think again. To call the spike in revenue at Macau casinos remarkable would be considered an understatement.

According to Lusa, a Portuguese news agency, revenue at Macau casinos jumped by nearly ninety-five percent in the month of May. Only six developers hold licenses for casinos, but the facilities produced over $2.12 billion in May. That dwarfs the numbers from the same period in 2009.

"What is happening in Macau is unbelievable," said Gaming Analyst Brad Dawkins. "Less than a year ago, it looked like the Chinese government was going to stall the growth of the gaming industry in Macau. Now, instead, the industry has taken off to levels never before seen."

Much of the reason for the increase in revenue was the Chinese government. originally, the government began limiting the number of times Chinese residents could visit Macau from the mainland. In recent months, however, the restrictions have been loosened, and the casinos are feeling the effects.

The growth has reached such a dynamic level, that the government in Macau, in conjunction with the existing casino developers, have vowed to slow any future casino plans. Several developers are allowed to finish projects that have already begun, but no new projects will be authorized by the government.

Several years ago Macau passed Las Vegas as the gambling capital of the world. In the past year, Las Vegas casinos have struggled to recover from the economic recession in the US, while Macau casinos have enjoyed increased revenue courtesy of the thousands of Asian gamblers that are visiting.

Las Vegas Sands, Melco Crown Entertainment, Galaxy Entertainment Group, MGM Macau, Wynn Macau, and SJM Holdings all have properties in Macau. SJM Holdings has the highest market share of just over thirty-two percent.

June 4, 2010
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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