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Macau Casino Earnings Keep Going Up
Posted 3/1/11 : Mainland Chinese visitors push revenue to a record high.
Government statistics released this week show Macau's February gambling revenue leapt 48 percent year-on-year and 33 percent over January 2011, driven mainly by mainland Chinese visitors
Macau's Gaming Inspection and Coordination Bureau reports that February's gambling revenue increased to MOP19.86 billion ($2.47 billion) from MOP13.45 billion this time last year. February's revenue has surpassed the last monthly record of MOP18.88 billion reached in December 2010.
Dow Jones reveals that revenue amongst Macau's six casino license-holders broke down to Stanley Ho's SJM Holdings leading the market with a 32 percent share, Sands China Ltd following with 18 percent, Melco Crown Entertainment and Wynn Macau Ltd with 15 percent each, MGM Macau with 11 percent of the market and Galaxy Entertainment Ltd holding 9 percent, 4 percent down from last month.
Gary Pinge, regional head of Gaming and Consumer at Macquarie Securities in Hong Kong told Reuters that the figures were a surprise as over the past four years, February has generally been 5-10 percent weaker than in January, because of the timing of the Lunar New Year holiday.
"February looks all the more impressive given the fact that there were three (10 percent) fewer days and one less weekend than in January. If this is a trend for the rest of the year, Macau could continue to see strong growth, month on month," he said.
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