Macau Casino Revenue up 12.2% to $2.92b
Macau continues to experience growth and establish itself as the world’s premier casino gambling destination after pulling in $2.92 billion in June, 2012 casino revenue. When compared to June, 2011, this is a 12.2% increase, which shows that Macau certainly isn’t slowing down any lately.
Interestingly enough, gaming analysts were expecting around a 15% increase last month; however, various factors could have led to the lower than expected number. Grant Govertsen, who works for Union Gaming Research Macau, discussed his thoughts on the matter by saying, “But for the typhoon, we believe June results would have been in line with expectations. We believe the first two days of July have rebounded nicely from the last two days of June in terms of visitation and gaming volumes.”
Of course, there are plenty of other reasons why Macau may not have reached the predicted numbers. For one thing, a Greek Mythology Casino owner named Ng Man Sun was beaten with hammers and sticks while in his own restaurant. This act of violence may have turned some gamblers off from visiting Macau in June.
As for other factors that caused a slight dip in predicted Macau casino revenue, the big European football tournament, sliding Chinese economy, and credit problems for some of Macau’s biggest high rollers all caused earnings to grow a little slower.
It will be interesting to see how Macau casino revenue does in the future and if earnings will continue increasing. Since 2010, Macau has been experiencing insane growth as revenue shot up from $15 billion in 2009 to $23 billion in 2010, which was a 58% growth rate. 2011 saw another huge spike when Macau casino revenue increased to $34 billion, or a 42% increase. In regards to the current year, gaming analysts are expecting Macau to end the year with a 15% overall increase from 2011.