Macau Smashes Gambling Revenue Record With $4.57 Billion OctoberPrevious Mark Of $3.92 Billion Set In March Destroyed |
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As predicted, October was a record-breaking month for Macau gaming revenue.
The former Portuguese colony, the only place in China where gambling is legal, brought in an all-time high of $4.57 billion in October, according to figures released by officials.
The figure marked a 32-percent gain compared to the same period in 2012.
The gains can be attributed to an increase in tourism for the Golden Week holiday.
The previous monthly revenue record of $3.92 billion was set in March of this year.
Macau has almost surpassed the $38 billion in gaming revenue collected in 2012. There are still two months left in 2013. Gambling makes about around 50 percent of Macau’s economy.
In Nevada, once the top gambling market in the world, casinos took in $10.8 billion from gamblers last year. That figure should be up slightly for calendar year 2013.
Some of the top casino firms in Nevada – such as MGM Resorts, Wynn Resorts and Las Vegas Sands – all do business in Macau as well.
Macau has more than 30 brick-and-mortar casino properties, with more on the way. MGM is building a massive casino complex on the Cotai Strip.
Despite a massive gambling industry, Macau doesn’t have legalized online gambling, at least not yet. That business is being brought, albeit slowly, to the United States.
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