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Macau Revenue Breaks $45 billion in 2013

2024-07-10 13:29    Views:194

Macau wrested the crown of gambling capital of the world from Las Vegas early in the Millennia and now revenue eclipses the Sin City Strip by about seven fold. In term of US Dollars they took in over $45 billion (360.7 billion patacas). December’s revenue accounted for almost 10% of the total making it the banner month according to the dicj.gov.mo (Gaming Inspection and Coordination Bureau) website with October showing the greatest gain at +31.7% over 2012 based on gross revenue.

Macau is a Chinese territory with a special regulatory designation making it the only legal place to gamble. Most traffic arrives from Hong Kong via fast ferries that run several times per hour. The most affluent and those who prefer alternative transportation arrive via helicopter, or Sky Shuttle.

Nearly a quarter of the Macau workforce is employed directly by the gambling industry. Each of the 570,000 permanent residents of Macau benefit directly in another way as well with government hand outs. 2013 saw an average of 9,000 patacas (1,100 USD) for each. But the city’s rapid growth has caused a litany of housing and labor problems and some residents are not happy with the amount of money going into addressing those needs. Housing for the workers is a major problem. Discussions for license renewals begin in 2015 and analysts expect the government to use that leverage to broker solutions. Almost 80% of the city’s tax revenue comes from the gambling sector.

Portugal ceded their interest in Macau to Beijing in 1999 and it was opened to foreign competition in 2002. There are currently six firms with casino operating licenses. There are 3 cities in the territory with gambling facilities, which have 46 properties in total.

For a complete review of the state of gambling, news, job openings, and detailed descriptions of each property including restaurant and entertainment venues, hotel accommodations and access to forums for each casino please visit the World Casino Directory’s Macau Casinos & Gambling pages. You will find complete, in person reviews of such amazing properties as City of Dreams and Venetian Casino Resort Macao.



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