Macau Gambling Revenues Reach $45 Billion In 2013
The old saying that gambling is one of the industries that are recession proof is borne out by Macau. As anyone in the gambling world knows Macau is the largest and fastest growing gambling market in the world. We have reported extensively on their 2013 performance in all four quarters. In data just released by the local government. Macau has seen revenues increase by 18.6% for 2013 earning $45 billion in gambling revenues.
To put things in perspective to exactly how big Macau is, it is estimated to be worth more than seven times the gambling revenue of Las Vegas. Macau enjoys such exceptional growth due mainly to the fact that they are near the Chinese mainland where wealthy and middle class gamblers are keen to gamble. An interesting trend in Macau is the growing middle class Chinese gamblers who are making up for the slowdown of high rollers and VIP gamblers.
In the month of December revenues grew by 18.5% from the same time a year earlier due largely to an increase in holiday-season visitors. Revenues were $4.19 billion which were above analysts’ 13% estimate. There seems to be no stopping the rapid growth of this former Portuguese colony and we look forward to following this gambling Mecca in 2014.