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Macau's Big Month

Macau hit another record once again for the month of October. Boosted by the increasing number of visitors, including gamblers from the online casinos looking for fun live versions of the game, and from China’s mainland, the island saw another increase in its gambling industry revenues. In the statement made by the Gaming Inspection and Coordination Bureau, Macau showed a 42 percent revenue increase, or $3.4 billion, which equals to 26.9 billion patacas. This is considered a rebound from September’s results, which were considered the slowest throughout the year with a mere 39 percent increase. As for the number of visitors, land or online casino players, that gambled in the island, there was 13 percent increase compared to the same period last year, during the Golden Week Holiday of China, which starts annually on October 1.

According to the analysts, this $3.4 billion revenue in Macau is actually more than one-half of what Las Vegas is expected to receive for 2011 alone. All over China, Macau is the only place where gambling, through land or online casinos, is legal. This former colony of Portugal is just an hour away from Hong Kong by ferry ride and is a playground for wealthy Asians. And with continuous improvement in the land and online casino and gambling industry, the island’s revenue exceeded that of Las Vegas five times. The more than 3 million visitors every month has made the city unaffected with the global crisis.

But despite the strong performance during the third-quarter, several investors are worried about next year’s slow growth because of the volatility company shares for several major gambling groups on the island. For several executives from the land and online casino gambling venues, they are not expecting any growth between 40 to 50 percent. However, being a lucrative industry is still strong considering the still available demand from the Chinese and the increasing wages in China.