Macau gaming revenue exceeds expectations in October

Macau casino

Macau is arguably the most important gambling destination in Asia as it attracts millions of players throughout the year. The fact that it is the only place where you can gamble in China without breaking the law, means that plenty of rich Chinese with an appetite for gambling are also pouring in.

The tide is turning in favour of Macau, with the biggest gains being now posted by its casinos. Major poker events including those hosted by PokerStars act as a magnet for poker pros.

As reported by Bloomberg, the numbers released recently confirm the fact that October has been a tremendous month for casino operators in Macau, with several records being set. The officials claim that the revenue for this month alone stands at an incredible $4.57 billion which represents a 33% increase compared to October 2012. By comparison, the previous record set by the Macau gambling revenue is of $3.92 billion, with March 2013 being the most profitable month for casino operators until now.

The figures for last year show that the gaming revenue exceeded $38 billion and it is certain that 2013 will be an even more profitable year. To put things into perspective, it is worth mentioning that the gambling revenues for Nevada stand at $10.8 billion for 2012 and the estimates suggest that in 2013 the $11 billion threshold could be hit. The most important casino operators in Las Vegas are very active in Macau, with Las Vegas Sands, Wynn Resorts and MGM Resorts all doing business here.

It comes as no surprise that in Macau, 50% of the economy consists of gaming revenue and if the current trend endures, the percentage could grow even further in 2014 and beyond. For the time being, online gambling is not legal in Macau, with the vast majority of casinos operating here being land-based ones.