Gaming continues to break records

During the first four months of this year the local gaming sector has pocketed a daily average of MOP 653.1 million, with accumulated casino revenue of MOP 79 billion

Local gaming revenue set a new record in April for the third consecutive month, according to official statistics released yesterday by the Gaming Inspection and Coordination Bureau.
Macau’s casinos registered a highest ever monthly income of MOP 20.5 billion, up by 44.6 percent from MOP 14.2 billion a year earlier.
April’s figure overtook the short-lived record of MOP 20.09 billion which was set in March.
In the last five months the local gaming industry has set four new monthly records.
It all started with MOP 18.88 billion posted in December. After a slight decline in January, the casinos were back on top in February with MOP 19.86 billion and tipped over the MOP 20-billion mark for the first time in March.
In late March, Bank of America Merrill Lynch analyst Billy Ng predicted that revenue growth would remain strong during April. Unlike March, which had no public holidays and one fewer weekend, April had the Qing Ming festival holiday and five weekends, he was quoted as saying by the Wall Street Journal.
And hopes are high for this month as well, with gaming operator Galaxy Entertainment about to open its Cotai resort on May 15.
The accumulated casino revenue so far in 2011 reached MOP 79 billion, up 43.3 percent year-on-year. The local gaming sector has pocketed a daily average of MOP 653.1 million.

Casinos pocketed almost as much through the January-April period than in the whole of 2007

During the first four months the industry grew slower than in the entire year of 2010, when it reached a 57.8 percent peak.
Still, the MSAR casinos pocketed almost as much through the January-April period than in the whole of 2007. Four years ago, when the Venetian opened as the first Cotai resort, Macau’s gaming revenue topped MOP 83 billion.
If the local industry maintains its performance, it would need just six days to equal the 2007 figure. It would also reach MOP 238.4 billion by the end of this year.
Union Gaming analyst Grant Govertsen said last month in the Wall Street Journal that local gaming income could rise by up to 30 percent to USD 30.6 billion (MOP 245.3 billion) this year, a prediction also made by several other analysts early this year.
Meanwhile, other gaming sector analysts contacted by Portuguese news agency Lusa forecast a total gross revenues for 2011 of between MOP 255 billion and MOP 265 billion, 35 to 40 higher than last year.