Gambling revenues in Macau increase 18 pc
Spike in number of mainland visitors widens the city's lead over Las Vegas, cementing its place as the gambling capital of the world
Macau's gaming industry took in 360.75 billion patacas last year, up 18.6 per cent year on year, on strong demand from mainland tourists, further strengthening its position as the world's largest gaming hub by widening its lead over the Las Vegas Strip.
More than 17 million mainland tourists visited Macau in the first 11 months of last year, matching the figure for all of 2012. Mainland visitors account for about 60 per cent of all Macau arrivals, according to official data.
Grant Govertsen, lead analyst at Union Gaming Group, said he expected strong growth again this year, and forecast total gaming revenue growth of 14 per cent.
The forecast was based on "expected VIP growth of 10 per cent" and "mass market and slots growth of 22 per cent", he said, with improved rail connections and infrastructure, as well as the addition of the Chimelong theme park on neighbouring Hengqin Island, helping to attract more mainland tourists.
Wee Keat Lee, an analyst at DBS Vickers Hong Kong, estimated Macau gaming revenue in 2014 would go up by 15 per cent, fuelled by robust mass-market growth.