Macau casino income reaches $2 billion after a 40m percent increase
Macau is still the undisputed king of gambling locations all over the world after gambling companies achieved 40 percent more money taking its total revenue to an un believable $1.97 billion last month.
There are 34 casinos in the country and they are owned by 6 gambling giants with SJM having a bigger portion of the gambling cake. The casinos in Macau tried to get more gamblers into them by launching new baccarat joints that had huge payouts to gamblers. SJM reportedly benefited a lot from that move after it achieved two times the revenue generated for the first half of the year. Wynn Macau also achieved 80 percent more income in the first half of the year.
Betting expert Steve Schwartz stated that the end of everyday seems to confirm Macau as the biggest gambling destination in the world much to the detriment of Las Vegas and the latter will have to undertake lots of redevelopment projects to offer serious competition but even with that, Macau seems invisible at the moment.
There was a mean growth of 63 percent for the casino industry in Macau between January and August but last month’s performance was wasn’t as good as the other months. January’s performance was 62.5 percent whilst that of May was 94.1 percent.
But the performance of August wasn’t surprising as many experts had already predicted that. Jonathan Galaviz stated that Macau’s casino performance slowing down at this point in the year won’t be bad news at all. The effects of China’s bad performance of the housing sector were affecting Macau. Macau will still be way too better than other major gambling destinations even though its casino revenue is expected to fall till the end of the year.