\nBy HOWARD STUTZ
\n\tLAS VEGAS REVIEW-JOURNAL
\n\tMacau\u2019s casino market smashed records and exceeded even the most optimistic expectations for 2013, collecting more than $45.2 billion in gaming revenues during the year.<\/p>\n
\tThe figure exceeded 2012\u2019s record total of $38 billion by 18.6 percent. Most analysts previously predicted the Chinese gaming market would grow by 12 percent to 15 percent in 2013.<\/p>\n
\tAs a comparison, the Strip produced $6.2 billion in gaming revenues in 2012. Through November, the Strip is up 3.9 percent with December\u2019s totals to be released later this month.<\/p>\n
\tMacau\u2019s Gaming Inspection and Coordination Bureau released the region\u2019s year-end figures Thursday.<\/p>\n
\tThe record haul was helped by December, which produced Macau\u2019s second $4 billion revenue month this year.<\/p>\n
\t\u201dBased on numerous conversations we\u2019ve had with casino operators over the past few weeks we find no reason to alter our bullish stance on Macau as we head into 2014,\u201d said Union Gaming Group principal Grant Govertsen, who is based in Macau.<\/p>\n
\tDuring December, Macau casinos collected $4.2 billion in gaming revenues, an increase of 18.5 percent over December 2012. In October, Macau set a single-month record of $4.6 billion in gaming revenues.<\/p>\n
\tGovertsen predicted Macau\u2019s annual total will be seven-times what the Strip produces in a single year.<\/p>\n
\tLas Vegas Sands Corp., Wynn Resorts Ltd., and MGM Resorts International all operate casinos in Macau, which has roughly three dozen large and small gambling halls. All three Nevada companies are in various stages of building new multi-billion resorts on Macau\u2019s Cotai Strip region.<\/p>\n
\tMacau is the only legal gaming market in China.<\/p>\n
\tGovertsen told investors that gaming trends in Macau over the Christmas and New Year\u2019s period have been \u201cexceptionally strong\u201d over the past two years.<\/p>\n
\t\u201cWe would attribute much of this to increased Mainland enjoyment and participation of the holiday season,\u201d Govertsen said. \u201cThis should spill over into January and ultimately into the Chinese New Year holiday period that begins in late January.\u201d<\/p>\n
\tThis is a developing story. Check back for updates.<\/p>\n
No replies were posted for this topic.<\/p>\n","protected":false},"excerpt":{"rendered":"
By HOWARD STUTZ LAS VEGAS REVIEW-JOURNAL Macau\u2019s casino market smashed records and exceeded even the most optimistic expectations for 2013, collecting more than $45.2 billion in gaming revenues during the year. The figure exceeded 2012\u2019s record total of $38 billion…<\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-6767","post","type-post","status-publish","format-standard","hentry","category-latest-casino-news"],"_links":{"self":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/6767","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/comments?post=6767"}],"version-history":[{"count":0,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/6767\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/media?parent=6767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/categories?post=6767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/tags?post=6767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}