Several Las Vegas casino company giants invested in Macau years ago, and their investments are now paying off in a big way. While Las Vegas and other US casinos
In September, Macau casinos again experienced the joy of a double digit revenue increase. The figure is no ordinary increase, with revenue growing forty percent from the same month in 2009. The $1.9 billion won by Macau casinos shows how far the industry has come in Asia.
Earlier this year, Macau casinos were privileged to a revenue growth of sixty-seven percent. That first half number was large, and analysts did not predict that the second half of 2010 would bring the same growth. The projection for the second half of the year is a modest thirty-four percent.
While Macau casinos celebrate their increase in business, casinos in the US continue to try and recover from the economic recession. Las Vegas, once considered the gambling capital of the world, has fallen well behind Macau, and other states of the US are actually hurting the Nevada gaming industry through expansion of their own.
Wynn Resorts, Las Vegas Sands, and MGM Mirage are all companies that understood the potential of Macau and invested in casinos in the gambling mecca. These companies are now enjoying the benefits of having casinos in Macau, with each company seeing their stock rise due to the overwhelming success in Macau. The Asian market has become so appealing, that gaming companies have now opened their eyes to casino expansion in Singapore and Malaysia.
Up until the new millennium, Asian gamblers would be flown across the world by Las Vegas casino tycoons. The gamblers would be treated to free rooms, drinks, and other comps in exchange for bringing their high-rolling attitudes to Sin City. Now, however, many of those gamblers can find similar amenities much closer to home at Macau casinos.
October 5, 2010
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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