Macau Has Another Record Month of Gaming RevenueCasinos Take in $3.4 Billion During October |
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Revenue from Macau casino operators increased 42 percent to a record 26.9 billion patacas ($3.4 billion) for the month of October thanks to a week-long national holiday, according to the city’s Gaming Inspection and Coordination Bureau.
The record-setting month comes after the city recorded a 39-percent increase in revenue in September, the lowest rate over the past eight months.
The Associated Press reported that Macau casino stocks plunged in early October due to fears that a credit crunch in China would reduce the traffic from wealthy gamblers.
Macau is the only place in China where casino gambling is legal and overtook Las Vegas in 2006 as the biggest gambling market in the world. According to the Wall Street Journal, the city is set to earn more than five times more than the Las Vegas strip in revenue this year.
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