February 2nd, 2011 – by Glen Farmer
Macau has become the world’s largest collection of gambling centers in the world, and the success of the region has driven revenue through the roof. Gambling revenue in Macau has continued to drive far beyond the total revenue in the same time period from the previous year.
Macau’s casino gambling revenue has boomed another 33 percent in January. Gambling revenue in Macau has boomed to18.6 billion patacas, or $2.3 billion, up from 13.9 billion patacas, or $1.8 billion. The region has been growing at an unprecedented rate,with every month’s year to year revenue rising fairly quickly.
According to Macau’s Gaming Inspection and Coordination Bureau, gambling revenue is rising primarily due to Chinese gamblers placing more bets on baccarat and other card games. Revenue also began to spike when Chinese officials began to allow more visitors from the mainland to visit the region.
The year of 2010 was a solid year for Macau’s gambling revenue. The region generated an additional 58 percent on top of revenue in 2009. A total of 188.3 billion patacas had been generated for the region, bringing in four times more than the $5.62 billion that the Las Vegas Strip had collected.
Both of the United States’ gambling havens, Las Vegas and Atlantic City, have been faltering, and revenue has been unstable or down in both areas.