Macau Gambling News 2019: May GGR to Rise in the Casino Capital
Posted: May 9, 2019
Updated: May 9, 2019
Macau is the official gambling and casino capital ahead of Las Vegas
The casino industry accounts for much of the administrative regions revenue
The 2019 Labour Day long weekend tourist arrivals could help the regions GGR rate grow in May following poor rates in March and April
Macau has rightfully earned the title as the casino capital of the world topping Las Vegas. The Chinese special administrative region is the only part of greater China where gambling is legalized. This makes it the countries sole gambling destination. According to Macau gambling news 2019, the region continues to attract many gamblers, promising an exceptional gambling experience.
How Macau topped the list of best casino destinations worldwide
Macau started of as China’s top gambling destination. However, they have now taken on the title as the casino capital of the world. According to Macau gambling news 2019, the industry is the main source of revenue in Macau. One aspect behind Macau’s success in the industry is that gamblers can be sure to experience gambling on unprecedented levels.
This is thanks to their private VIP rooms which accommodate high stake games. Additionally, much of the regions revenue comes from targeting high rollers rather than the mass market gamblers. Their decision to target this market segment has proving to be beneficial. In 2013 alone, as they were alone accountable for 66% of total casino revenues.
Although the land based casino industry is thriving in Macau, the rules and regulations for online casino sites in Macau vary. According to the online casino news in Macau, privately owned entities aren’t permitted to run online gambling operations in the administrative region.
As a result, many of the Macau residents have opted to gamble at offshore casino sites. One of these offshore sites accessible to Macau players is King Billy Casino. For more information on the leading online casino site, be sure to read our latest review of King Billy Casino.
According to Macau news 2019, Macau have promising May forecasts for Gross Gambling Revenue in May
The 2019 Labour Day weekend saw a healthy increase in tourism in Macau. A with a majority of the visitors were from mainland China. A total of 636,44 tourists entered the administrative region during the 4 day Labour Day weekend. Thanks to the holiday, Macau’s Government Tourism Office announced that arrivals went up to 37%.
Additionally, Macau experience an average of 96.2% occupancy rate, a year on year rise of 1.9%. According to Macau gambling news 2019, the Macau Government Tourism Office undertook extensive inspections to ensure there were no irregularities regarding tour guides.
The increase of tourist arrivals during Labour Day foresee a promising forecast for Macau’s growth in Gross Gaming Revenue for May. Macau experienced an 8% drop in GGR in April and also struggled in March. However, according to Sanford C. Bernstein, Macau will be able to recover from the April horror and experience growth this month.