Macau’s casinos destroy another record

5 May , 2017 News

Macau’s casinos destroy another record

The month of February marked the record of revenue: the previous result of October 2013 was ripped off.

Macau ‘s casinos return to grinding billions of dollars after a month of relative calm in January: in February, the $ 38 billion of revenue patacas ($ 4.8 billion) surpassed the previous record of 36, 5 million made in October 2013. In general, turnover grew 40.3% year-on-year, despite February being the shortest month of the year.

Head to Las Vegas and Singapore

Great credit for this exploit goes to Chinese New Year festivities , which saw 770,000 people arriving from China during the celebration weekend, 23% more than the same period last year. The most impressive thing is that Macao’s growth rate is 29% and 35% higher than the forecasts of the two major competitors: Las Vegas and Singapore all year round generated 6.5 billion and 6 billion respectively, Almost as Macau did only in February.

The good news for Macau’s casinos does not stop here. According to the forecast, the growth rate in 2014 will be between 25 and 30%, as the former Portuguese colony has undertaken a series of projects that will improve infrastructure and will make Chinese visitors shorter, which It should increase the turnout. Not to mention that in the next three years 8 new resort casinos will be opened.

Local authorities have stressed the importance of diversifying their customers, which should not only consist of gamblers such as high rollers pointing to hundreds of thousands of dollars at a time. In addition, the growth of this segment should slow down and settle around 5-10%. For this Macau is focusing on expanding the entertainment and facilities offering to attract the so-called middle class and a different kind of tourism.

After some lines of transportation, such as the GuangzhouZhuhai railway and the bridge between Hong Kong and Macau, will be completed, the number of daily visitors to the former Portuguese colony should be sparkling at the stars.

Davis Fong , director of the Institute for the Study of Commercial Gaming at the University of Macao, explained: “Whoever lives in Guangzhou can take the train and get to Macau in 40 minutes to attend a show or shop, go a couple Hours here and then back home. Daily visitors could account for between 60 and 70% of the total for this to become even more important . “

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