Thursday September 1, 2011 : 57 percent year-on-year rise in revenues
Asian gambling mecca, and now the world's largest land gambling destination, Macau has delivered another outstanding month of revenue, according to reports from the Reuters news agency.
The island off the coast of China posted a 57 percent year-on-year rise in gaming revenue for August to 24.77 billion patacas ($3.08 billion) Thursday, the latest indication that the enclave is powering ahead despite deep-seated concerns about the global economy.
Macau, a former Portuguese colony, has reported booming revenue growth since the start of the year, boosted by an increasing number of cash-rich gamblers from mainland China eager to try their luck in the country's only legal casino market.
Home to multi-billion dollar casinos including U.S. gaming stalwarts Sands China Ltd , Wynn Macau Ltd , and MGM China Holdings Ltd , Macau is on track to post full-year revenue five times higher than rival Las Vegas, Reuters reports.