Macau Casino Industry Red Hot To Start 2018Gaming Win For City Tops $3B In January |
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Following a rebound year in 2017, the Macau casino industry in January posted one of its best months in recent memory.
According to government officials with the Gaming Inspection and Coordination Bureau, the roughly three dozen casinos won 26.3 billion patacas ($3.3 billion) from gamblers last month. That was a 36 percent gain compared to January 2017. It was the largest year-over-year gain since early 2014.
Bloomberg reported that analysts were expecting a roughly 27 percent gain in January.
Macau, the only place in China with legal gambling, had gaming win of $33 billion last year, about three times what was won in the state of Nevada.
Macau’s gaming market hit a high of $45 billion in 2013. Prior to Macau’s downturn, it was predicted in a Wall Street Journal report that in 2017 the gambling market would hit $77 billion.
Prior to the turnaround last year, there were 26 straight months of declines.
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