September 3, 2013 – Throughout Macau, China, there are a variety of casinos. It has quickly become a gambling destination. August showed the second-highest single month of gaming revenue for the industry and the market doesn’t show any signs of slowing down.
Casinos throughout this enclave of China recently collected $3.8 billion from gamblers – all in a single month. This was an 18 percent increase over prior year. Analysts calculated this number and said it was impressive especially because visitation was slow for a few days over the month because of Typhoon Utor.
The first eight months of 2013 have been promising for Macau gaming revenues. The revenues are up over 16 percent from 2012. Last year was impressive as well as the industry collected a record $38 billion. As long as the next four months continue to be as fruitful, the Macau gaming industry will exceed last years’ numbers by a considerable amount.
Casinos are operated by Las Vegas Sands, MGM Resorts International and Wynn Resorts throughout Macau. All three of these companies will also be building new resorts along the Cotai Strip in the region. Las Vegas Sands and Wynn are responsible for collecting over 70 percent of the companies’ revenues in Macau.
Analysts have said that as infrastructures change and it’s easier to enter Macau, the casinos will benefit even more. The Macau casinos are doing well but business began to pick up significantly in the last quarter of 2012, so it will be difficult but not impossible for the casinos to exceed their 2012 revenue numbers according to RBC Capital Markets gaming analysts. The strengthening Chinese economy is a good thing for Macau.
Throughout China, there are more domestic and international demands and exportation has increased significantly. This can be a good sign for Macau especially because of how close it is to the province of Guangdong.
As the economy continues to strengthen, it means good things for Macau – and all of the casino properties that operate in the area. This is likely why all of the developers are working on opening more hotels throughout the area, including Cotai.