December 6th, 2010 – by Glen Farmer
Macau’s gambling revenue has continued to grow through the month of November. Macau’s casinos have reported a 42 percent increase over the month of November.
The Macau Gaming Inspection and Coordination Bureau released the information on Wednesday. According to the Bureau, the region’s casinos have generated $2.13 billion in gaming revenue over the month. This represents the second highest month in revenue. October 2010 holds the lead for the largest month in terms of revenue, as $2.3 billion had been drawn in by the casinos.
Due to the gaining revenue, stock on Wynn, MGM Resorts, and Las Vegas Sands alike have all risen.
Perhaps one of the biggest gains in the casinos came from the high stakes poker action that brought millions of dollars to the felts. Tom Dwan, Phil Ivey, and many other big names in poker had arrived at the felts to do battle with high stakes locals.
Macau’s gambling hub has effectively become the largest in the world, far outshining Las Vegas. Revenue in Las Vegas has been shaky, experiencing small declines and gains alike. America’s other major gambling hub, Atlantic City, has been showing receipts of a near continuous free fall.
Macau’s gambling revenue has been rising consistently, experiencing explosive growth on a near monthly basis.