Macau Casinos Win $45.2 Billion From Gamblers In 2013Former Portuguese Colony Has Another Record-Setting Year |
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Macau just broke its own record.
After a big December, the former Portuguese colony and the only place in China were casinos are legal, took in 360.7 billion patacas ($45.2 billion) from gamblers in 2013. That mark was a 19-percent increase compared to calendar year 2012, which was then a record.
These figures are according to Macau’s Gaming Inspection and Coordination Bureau.
The best month for the home to the Cotai Strip was a $4.57 billion-October.
For comparison, the entire state of Nevada is around one-fourth as large. The entire commercial industry in the United State was around $37 billion in 2012, though if you factor in tribal gambling ($27.9 billion in 2012), the U.S. as a whole is still the top market in the world, well above China and its Macau.
Though, that might not last for too long.
According to The Wall Street Journal, at least one analyst has predicated that Macau gambling revenue will grow by another 20 percent in 2014, while another says that in 2017 it will hit a whopping $77 billion.
Macau has more than 30 brick-and-mortar casino properties, and more are on their way.
In 2012 Macau officials decided to let foreign casino operators in, and the market soon exploded. Today, top firms like Las Vegas Sands Corp. and Wynn Resorts do business there.
Online gambling might be on its way in Macau, as one firm recently announced that it would push for such activity. Running a web betting business isn’t currently legal there. However, if you reside in Macau you can access and play on such like PokerStars and Full Tilt Poker.
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