Portfolio of Kimberly Johans

A collection of articles created during my stint as a journalist at The Macau Daily Times

Gaming revenue jumps 46 percent in third quarter

Posted by Kimberly on October 19, 2007

By Kimberly Johans
Published in The Macau Daily Times
October 19, 2007, page 7 (363 words)

Macau’s gross revenue from gaming for the third quarter of 2007 rose dramatically by 46 percent to 20.34 billion patacas from 13.95 billion patacas over the same period last year, according to figures released yesterday by the Gaming Inspection and Co-ordination Bureau.
This figure brings the total over the past nine months to 58.32 billion patacas. This sees an increase of 47 percent over the same period in 2006, where that total was 39.7 billion patacas and already had reached beyond the total for the whole year of 2006, of 56.62 billion patacas.
Greyhound racing also saw a sharp rise in revenue during the third quarter of 2007 as opposed to the same period in 2006, from 14 billion patacas to 22 billion patacas.
Horse racing meanwhile, only saw a slight increase over the same third quarter periods of 9.5 percent, from figures in 2006 of 97 billion to 102 billion this year.
Revenue from sports lotteries, mainly football and basketball, saw a slight decrease of 6.15 percent and a significant decrease of 76.9 percent respectively between the third quarters if 2007 and 2006.
This meant that football lottery revenue amounted to 65 billion patacas for the third quarter of this year as opposed to 61 billion patacas last year in the same period.
Meanwhile, basketball lottery revenue slid in the third quarter of 2007 to 3 billion patacas, from 13 billion patacas during the same period in 2006.
Gross revenue from VIP baccarat rose by 17.19 percent in the third quarter of this year compared with the same period of 2006, from 11.32 billion patacas to 13.67 billion patacas.
High-rollers are gamblers who tend to spend at least 500,000 patacas on casino bets each time they visit Macau, according to analysts and casino industry executives.
The above results from high-rollers make up 67 percent of the total revenue from gambling for the third quarter of 2007.
According to analysts earlier this year, the increase in Macau casinos had also seen an increase in gamblers coming to the city and therefore contributing to the increase in gambling revenue.
Three new casinos, including the gigantic Venetian Macao, had opened over the past nine months.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: