Macau’s total casino revenue in October increased 32% year-on-year to an all-time high of 36.5 billion Pataca, or $4.57 billion.
According to Bloomberg, Macau’s October casino revenue is in line with analysts’ previous forecast. The old record was set in March this year, at 31.34 billion Pataca. Macau casino operators, such as Sands China and Galaxy Entertainment, have added entertainment programs and hotel rooms to attract tourists from mainland China. According to data from Macau authorities, the number of visitors from mainland China to the territory during the national holiday in early October this year increased by 12.1% over the same period last year, reaching 722,746.
In the first 10 months of the year, Macau casino revenue increased by 18% compared to the same period in 2012, reaching 297.2 billion Pataca, equivalent to 37.2 billion USD . Last year, the territory earned $ 38 billion in revenue from casinos, six times the total revenue of casinos on the Las Vegas Strip.
The total number of visitors to Macau during the national holiday week from 1/7/10 reached 896,847 arrivals, 5.7% higher than the same period last year. Visitors from mainland China have fueled the booming casinos in Macau, the only place in China that allows casino operations.
In the third quarter of this year, Macau casino groups such as Sands China, MGM China and Wynn Macau all reported double-digit profit growth, thanks in part to the prosperity of China’s economy. The third quarter is the first quarter since the beginning of the year when China’s GDP accelerated, reaching a growth rate of 7.8% over the same period last year.
Stock prices of several Macau casinos listed on the Hong Kong market today all surged. In particular, MGM shares rose 2%, Sands China rose 1.5%, Galaxy rose 2.4%, and Wynn Macau increased 1.3%. Meanwhile, the main index of the Hong Kong stock market rose only 0.2%.