Macau hits jackpot as casino revenue soars 20%
The news sent shares of Macau's casino operators higher, including Melco Crown, the joint venture operation of James Packer's Crown.
Casino revenue in the Chinese city jumped to 28.2 billion patacas ($A3.3 billion) in December, beating the previous record of 27.7 billion patacas in October, according to Macau's Gaming Inspection and Co-ordination Bureau. "This is definitely better than our expectation and much higher than the street estimates," said Jeremy Tan, a Hong Kong-based analyst at Kim Eng Securities.
"It's a combination of higher holiday footfall, higher win-rate and a return to VIP market."
Full-year casino revenue in Macau increased by 14 per cent from 2011 to 304 billion patacas, also a record.
Gambling revenue is climbing as operators, including Sands China, Galaxy and Melco Crown expand in the only place in China where casinos are legal.
Visitor arrivals rose 0.5 per cent to 25.6 million in the first 11 months of 2012, with 60 per cent coming from mainland China, the city's Statistics and Census Service said.
Macau authorities expected 800,000 border crossings from January 1 to January 3, Union Gaming analyst Grant Govertsen said in a report.
Frequently Asked Questions about this Article…
The article says December's 20% rise was driven by stronger holiday demand and promotions, higher win‑rates at tables and a return of VIP gamblers — factors cited by analyst Jeremy Tan and linked to Christmas promotions that drew more holidaymakers.
Macau's casinos generated 28.2 billion patacas in December (about A$3.3 billion), a record that beat the prior high of 27.7 billion patacas in October. The article reports the figure as a fresh high for the market and notes the news pushed casino operator shares higher, indicating strong market momentum.
Yes. According to the article, the record revenue news lifted shares of Macau casino operators, specifically mentioning Melco Crown (the joint venture operation of James Packer's Crown) as moving higher after the announcement.
The article names Sands China, Galaxy and Melco Crown as operators expanding in Macau and benefiting from climbing gambling revenue in the world's largest gambling hub.
Full‑year casino revenue in Macau rose 14% from 2011 to a record 304 billion patacas, according to the figures cited in the article.
Visitor arrivals grew 0.5% to 25.6 million in the first 11 months of 2012, with about 60% coming from mainland China. The article links higher holiday footfall and seasonal promotions to the December revenue boost.
Analyst Jeremy Tan told the article that a return to the VIP market was one of the key contributors to the December revenue surge, alongside higher footfall and higher win‑rates.
Yes. The article notes Christmas promotions helped attract holidaymakers, and Union Gaming analyst Grant Govertsen cited an expectation of about 800,000 border crossings from January 1 to January 3 — a short‑term travel spike referenced in the report.
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