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Macau Gambling Revenues Grew 52% in June from a Year Ago
Macau Gambling Revenues Grew 52% in June from a Year Ago
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Macau Gambling Revenues Grew 52% in June from a Year Ago
Statistics released by the Macau Gaming Inspection and Coordination Bureau Friday showed gambling revenue for the month of June rose 52% year-over-year in the city to $2.59 billion.Visitors from the mainland continued to drive strong year-over-year growth. Macau is the only place in China where casino gambling is legal.The year-over-year growth of 52% is the highest so far this year, but the total revenue actually fell short of May’s all-time high of $3.02 billion, bolstered by the holiday season and the strong opening of Galaxy Entertainment Group's new casino resort.For the first six months of the year, gambling revenue is up 45% from the first six months of 2010. That strong growth is actually lower than 2010's growth over the previous year, which was 58%.Shares of Las Vegas Sands (NYSE:LVS), MGM Resorts International (NYSE:MGM), Wynn Resorts (NASDAQ:WYNN) and Melco Crown Entertainment (NASDAQ:MPEL) are all trading up on the news.
Channel: Voxant Newsroom
Category: Business
Video Length: 0
Date Found: July 01, 2011
Date Produced: July 01, 2011
View Count: 0
 
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