BUSINESS

Macau revenues jump for yet another month

TAGs: Macau, revenues, shares

macau-revenues-increaseAs far as gambling enclaves go there’s one front-runner – the one they call the show-stoppa! The one people in some sections of society know as the Mac-Daddy, or the Don. It’s even the place to be amongst gambling destinations in general. So there’s not even surprise anymore when it’s announced that Macau have again over-performed when it comes to year-on-year results. The only surprise is that the Queen hasn’t knighted them.

This time the enclave’s casino revenue rose by around 50% for October, boosted by China’s Golden Week holiday. Macau’s latest results triggered a surge in trading for three firms that are based there. On the New York Stock Exchange, Las Vegas Sands climbed 2.9% to $47.23, whilst on the Nasdaq Wynn’s shares rose 2% to $109.26, and Melco Crown gained 4% to $6.52.

These results further fuel the fire that Asia will be the next big growth area for the online gaming industry, as the growth seen in land-based has been unprecedented so far. Now I bet Portugal are royally pissed off they gave up this colony all those years ago!

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