Thursday October 3,2013 : MACAU GAMBLING REVENUES CONTINUE TO RISE
Revenues up 21.4 percent in September 2013.
Gambling revenue in China's offshore casino hub of Macau rose 21.4 percent in September year-on-year, on robust spending by affluent gamblers, reports the Reuters news agency.
And even a typhoon that hit southern China at the end of the month and disrupted travel could not reverse the upward trend, although it probably slowed things down temporarily.
September's revenue came in at 28.96 billion patacas ($3.63 billion) according to government data released Thursday. The figure was at the low end of analyst estimates who forecasted September growth in the world's biggest gambling market to rise 22-25 percent.
Macau is the only place in China where casino gambling is legal, and as a consequence the small island is frequently packed with mainland tourists, necessitating plans to expand handling facilities.
Local authorities expect October will see Macau casinos reach new record revenues thanks to a week-long national holiday at the start of the month. Hotels are already fully booked for the period. Macvau attracted a staggering 28 million tourists last year, official figures show, and there are plans to boost that.
Analysts are confident that as external infrastructure projects are completed, such as the expansion of an intercity railway in China and a bridge connecting Hong Kong, Zhuhai and Macau that is due to open in 2016, greater numbers of visitors will be able to visit Macau.