Macau revenue increase leads to casino boost

Macau, the ‘Las Vegas of the East’, has released details of a huge increase in revenues in the last year, which has been welcomed by the gambling industry around the world. Macau is the biggest gambling market in the world, and its success is seen as key to the overall success of the industry.

Earlier reports in the month revealed that it had experienced a 59 percent increase in revenues from last year. This was great news for Macau, but now it looks like the rest of the gambling world is responding well to the news.

Share prices in a number of gambling companies have soared as a result of the positive news. The stock price of Wynn Macau went up 7.3 percent to HK $10.50, Galaxy Entertainment Group shares rose 5.9 percent, and Sands China, the Macau branch of Las Vegas Sands, saw a 5 percent rise to HK $10.02.

These figures come despite the global economic downturn, and they are especially positive for Sands China, which had originally made a very weak debut on the stock market, leading some industry commentators to state that the casino market was in decline.

With the success of Macau, it is likely that even more of Las Vegas’s mega casinos will be looking to enter into the market in the near future to join in the party.

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