"Macau set a new monthly gaming revenue record in March with 31.3 billion patacas (US$3.8 billion), surpassing 30 billion patacas for the first time. Macau reached the milestone despite slowing economic growth in China, its main source of customers, and stagnant visitor arrival numbers. Special circumstances pushed Macau over the top.
Revenue from high rollers rose 70% in 2010 and 45% in 2011, boosting its share of overall gaming receipts to 73%. But last year, growth in this VIP market stalled, especially in the second half of the year. That's partly because of the mainland economic issues. An estimated 90% of VIP revenue comes from mainland players.
The VIP slowdown was also linked to the mainland's long unfolding political leadership change that included pledges to crack down on corruption. Many observers link VIP play and corruption on the assumption that much of the money that's bet on the VIP tables originates from some form of illegal enterprise. True or not, some players felt the transition period was the wrong time to draw attention by flaunting their wealth.
By the time Xi Jinping officially took office as president in March, it was clear that the regime wouldn't declare a war on wealth or blindly punish visits to Macau. VIP play came roaring back after months of stagnation to grow an estimated 25% from a year earlier, accounting for 21.8 billion patacas, or 70% of March's 31.3 billion patacas total.
The record month established a new plateau: Macau's casinos now regularly take in more money in a month than they did in a full year a decade ago. Then, there was just one casino operator with a couple hundred tables. Now there are six operators and more than 5,000 tables. But the changes go beyond mere volume.
One of the reasons that Macau surpassed Las Vegas in gaming revenue in 2006 - Macau now does more than five times as much as The Strip - is that table stakes are higher. In Macau, limits start at HK$100 (US$13), while you can still find US$1 bets in Vegas. These days, minimums at many name Macau casinos have risen to HK$300".
Source: Asia Times
Revenue from high rollers rose 70% in 2010 and 45% in 2011, boosting its share of overall gaming receipts to 73%. But last year, growth in this VIP market stalled, especially in the second half of the year. That's partly because of the mainland economic issues. An estimated 90% of VIP revenue comes from mainland players.
The VIP slowdown was also linked to the mainland's long unfolding political leadership change that included pledges to crack down on corruption. Many observers link VIP play and corruption on the assumption that much of the money that's bet on the VIP tables originates from some form of illegal enterprise. True or not, some players felt the transition period was the wrong time to draw attention by flaunting their wealth.
By the time Xi Jinping officially took office as president in March, it was clear that the regime wouldn't declare a war on wealth or blindly punish visits to Macau. VIP play came roaring back after months of stagnation to grow an estimated 25% from a year earlier, accounting for 21.8 billion patacas, or 70% of March's 31.3 billion patacas total.
The record month established a new plateau: Macau's casinos now regularly take in more money in a month than they did in a full year a decade ago. Then, there was just one casino operator with a couple hundred tables. Now there are six operators and more than 5,000 tables. But the changes go beyond mere volume.
One of the reasons that Macau surpassed Las Vegas in gaming revenue in 2006 - Macau now does more than five times as much as The Strip - is that table stakes are higher. In Macau, limits start at HK$100 (US$13), while you can still find US$1 bets in Vegas. These days, minimums at many name Macau casinos have risen to HK$300".
Source: Asia Times
