Macau is quickly becoming the world’s most popular gambling venue. Tourists from around the world are flocking the destination, which is full of world-class casinos and resorts – resulting in $23 million in profits during the first half of 2013. Most of the revenue was generated by baccarat and high-stakes bacarrat, which accounted for over 90% of the city’s gross revenue.
Pokies were the second most generous form of gambling, contributing 5% while ‘cussec’ (a local game involving three dice) accounted for the rest of the significant growth. The city is experiencing tremendous growth in the worldwide gambling market. From this time last year, Macau’s profits have jumped by 19% – and further growth is to be expected by the end of 2013.
As such, Macau is becoming the fastest-growing gambling capital in the world. Years ago, it was considered risky for American and Australian operators to expand into the Asian gambling market – but the gamble paid off. Companies like Las Vegas Sands and Aristocrat are experience huge growth thanks to the significant role that they play in Macau casinos and gambling venues.
While this is great news for the international gambling market, it may not be so positive for high roller operators in Australia. Currently, local casino operators are working hard to attract high roller gamblers from Asia. Crown Casinos has recently proposed the construction of a VIP casino that would cater to players from Macau and the Philippines who have millions of dollars to spend on gambling tourism.
While this seems like a sound business strategy, local operators have steep international competition. Much closer to home, Asian gamblers have access to a wide range of world-class high-roller venues in Macau, and the gambling capital will only continue to develop and expand. As such, Australian casino operators will have to vastly up the ante to compete with gambling venues in the world’s fastest-growing gambling capital.
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