Macau continues to establish itself as a burgeoning international gambling capital with increasing revenue and activity year after year. This week, statistics show that Macau has beaten its own record for casino earnings in 2013, earning $50.7 billion across its 33 world-class casinos. In December alone, the city brought in $4.7 billion in casino gambling revenue.
It pushed Macau’s earnings up to $50.7 billion, marking an 18.6% increase on 2012’s total revenue. The small city in China is quickly becoming a gambling mecca, and it is overshadowing the success of Las Vegas. In 2013, casinos on the Las Vegas strip earned just $5.8 billion, just a portion of Macau’s earnings.
In fact, Macau’s 33 casinos earned more than all 12 000 casinos in the United States combined. As such, the city’s six casino operators are raking in significant profits. Wynn Resorts, Las Vegas Sands, Galaxy Entertainment Group and MGM Mirage are just some of the biggest earners in Macau’s gambling market in 2013.
“It’s going to be another strong year in 2014, while the growth rate is likely to be in mid-teens,” Grant Govertsen, a gaming analyst at Union Gaming Group, said in an interview with Business Week. “In absolute terms, it’s going to be magnificent growth because of the improved rail connection and infrastructure”. As Macau continues to grow, the city becomes steeper competition for Australia’s high-roller gambling market.
Casino operators like SkyCity, Echo Entertainment and Crown Limited aim to attract high-roller players from Asia, but they have to compete with Macau – a much closer option. The competition will only heat up as Crown Limited builds its VIP-only gambling venue in 2019 and Macau continues to attract both local and international high-roller players.
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