Macau Casino Revenue continues to Rise in 2012

Venetian casino in MacauCasinos are a major source of income for the Macau Government. While it had been predicted that there would not be large increases in revenue from gambling in 2012 the predictions have been proven to be incorrect as there has been an amazing 24% rise in revenue from the gaming industry in the month of March 2012.
This rise of 24% is compared to revenue from gambling in the same month last year and at the time March 2011 was considered to be a very good month for Macau’s casinos.For many years now, Macau has taken over the position of leading gaming capital in the world from Las Vegas. Gambling in Macau has gained in popularity and the revenue it has generated has helped the country avoid the recession faced by countries in the rest of the world (See article: Macau Casinos Resisting the Worldwide Economic Crisis).Macau benefits greatly from its proximity to mainland China where gambling is prohibited. So as the only place in China where it is legal to gamble, Macau has in recent times kept Asian gamblers within the region. In previous times, Asian gamblers would travel to the United States and gamble in Las Vegas and Atlantic City casinos bringing huge revenue to these casinos. While the United States casinos are seeing an upsurge in Asian gamblers  recently many Asian gamblers who would have travelled to the United States are now staying within Asia and Macau in particular has benefited from this increase in gambling. Asian players can gamble there in excellent casino resorts with hotels, restaurants, extensive casino space, convention centres, entertainment and shopping all provided onsite.

Some of the leading names in the world of casinos have built casino resorts in Macau such as the Wynn Resort, MGM Grand and the Las Vegas Sands. Macau also has casinos owned by SJM Holdings the company belonging to Stanley Ho who used to have a monopoly over gaming in Macau for decades before the industry opened up to outside casino developers.

For over a year analysts believed that the huge growth in casino revenue in Macau could not be sustained and the Macau government itself even tried to slow growth in the gaming industry there by claiming that there would be no further casino developments in the near future. The government wished to try to move the economy on from its dependence on gambling as its main industry. However the huge growth so far in the few months in 2012 has gone against this trend by exhibiting an increase in revenue that surpasses all the predictions.

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