Casino revenue in Macau rose 50 percent last month after tourists to the world’s biggest gambling hub surged during China’s Golden Week holiday.
Total gambling revenue for SJM Holdings Ltd (澳門博彩控), Sands China Ltd (金沙中國) and four other casino operators increased to 18.9 billion Macau patacas (US$2.4 billion) last month from Pt12.6 billion a year earlier, Macau’s Gaming Inspection and Coordination Bureau said.
Sales for casinos in Macau, the only place in China where they’re legal, have grown 59 percent to Pt152 billion so far this year as the global economic recovery boosted spending. The economy of mainland China, where most of Macau’s visitors come from, will probably grow 10 percent this year, according to the median forecast of 17 economists surveyed by Bloomberg.
Macau’s visitor arrivals rose 13 percent to 685,000 during China’s Oct. 1 to Oct. 7 National Day Golden Week, with about 70 percent coming from the mainland, according to the territory’s tourism agency. Visitors from mainland China comprised about 53 percent of the total in the first nine months of the year, according to data compiled by Bloomberg.
Sands China rose 1.2 percent to close at HK$17.10 in Hong Kong trading before the data was released. SJM climbed 3.1 percent to HK$11.88.
Wynn Macau Ltd (永利澳門) gained 0.7 percent to HK$17.26 and Galaxy Entertainment Group Ltd (銀河娛樂集團) advanced 1.6 percent to HK$7.42. Melco International Development Ltd (新濠國際發展), which has a venture with Australian billionaire James Packer’s Crown Ltd, climbed 4.3 percent to HK$4.59.
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