Macau, a former Portuguese colony, and the only place in China where it is legal to gamble according to Chinese gambling laws, has seen growth of 35 percent in its gambling revenue for the month of January 2012.
Touted as the largest gambling destination in the world by China gambling news, with the majority of players coming from mainland China, that figure is up another 10% from December 2011’s rise of 25 percent.
The data, analyzed and collected by Macau’s Gambling Inspection and Coordination Board, is believed to be overshadowing concerns about the credit squeeze, in a time of global recession. There is currently no available data on revenues of online casinos in China.
With a yearly revenue some five times larger than that of Las Vegas, Macau is quickly taking over the mantle from its cousin in Nevada.
Whilst most of Las Vegas’ income, half in fact, actually comes from restaurants, conventions and entertainment shows, in Macau the non-gaming revenue accounts for a mere 5 percent of the income.
The future could get worse for Las Vegas casinos, as Macau’s government officials are still deliberating over a plan, which could see them bolster their revenue further still.
There are increasing calls being reported, for Macau to branch out into the non-gaming arena, and possibly reap the rewards such a move would allow.
The Macau government officials believe that stimulated growth in such areas such as food, drink and retail facilities could assist the rise even further. Exhibitions, hotels and conferences are even being mooted as potential targets for the rapidly growing industry in Macau.
Only an hour away from Hong Kong by ferry, Macau shows no sign of relenting its pursuit of the triumphant rises its seen in internet betting over the last two years. Though any further development in the arena could be a gamble too far.