Macau, the Las Vegas of Asia, sees gaming revenue jump 28%
Macau’s gambling revenue is up almost 28% since last year.
Macau, an autonomous region on the coast of China where gambling is legalised, saw record growth for the 21st month in a row for its gaming revenue this April.
The region has released figures for April exhibiting a year-on-year increase of 27.6% in gaming revenue. Total revenue reached $3.2bn. This is a huge improvement on the predicted revenue growth for the region which most analysts put at 18%.
See also:
Macau gambling profits see biggest increase in four years
China to become world’s top film market as box office makes $7.9bn
Asia edition of Business Chief – May issue out now!
The figures may have been boosted by China’s mini “golden week” holiday from April 29th - May 1st, though some of this activity may not yet have been accounted for.
Casino operator Galaxy Entertainment Group, which is based in Macau, posted a 36% rise in earnings on Thursday. The company is one of six major casino operators in Macau and accounts for about 21% of the region’s total gaming revenue.
- Executive shakeup at L’Oreal China amid growing complexitiesLeadership & Strategy
- How Longi became the world’s leading solar tech manufacturerSustainability
- DHgate's Diane Wang – Microsoft exec to ecommerce pioneerLeadership & Strategy
- Top 10 best-performing family businesses in Hong KongCorporate Finance
Featured Articles
Nirvik Singh, Global COO and President International of Grey Group, cultivating culture and utilising AI to enhance rather than replace human creativity
On a mission to accelerate the adoption of sustainable energy solutions, US$30 billion Chinese tech firm Longi is not just selling solar – but using it
Armed with an ambitious billion-dollar strategy, Samsung is on track to achieve net zero carbon emissions company-wide by 2050 – but challenges persist