Macau saw casino business revenue increase by more than 40% over the past year as the enclave’s gaming industry showed no sign of slowing. VIP visitors from China fueled an increase of 42% as revenue tipped the scales at an impressive 267.87 patacas ($33.47bn) for the year and showed how successful Asia’s gaming industry continues to be – both land-based and online. Although the market is now around five times larger than that of Las Vegas there are worries that non-gaming activities only account for 5% total revenue. As long as the Chinese VIPs keep streaming through the doors the enclave is unlikely to have any problems and with companies queuing up to build more casinos the market won’t be significantly slow for some time yet.
Galaxy Entertainment Group completed the year as the best performer as far as stocks and shares are concerned. The company, which opened up the enclave’s newest venue earlier on the year, saw stocks rise 61.8% over the course of the year and finished the year with double the increase of the nearest contender Melco International Development (up 30%). Among the other operators, Sands China rose by almost 28.5%, Wynn Macau by 18.1% and SJM by 5%.
Macau’s position on the top of the casino business tree was further confirmed by the revenue finishing the year up 25% in December compared with the year before as gaming industry revenue hit 23.61billion patacas ($2.95bn). Some may be disappointed that the increase wasn’t more like 50% but an increase of that much in the current economic climate is nothing to be shirked at especially in the land-based gaming industry.
