Macau still a good bet
MACAU – Gross revenues of Macau’s casinos grew 31 percent in 2008 and are expected to reach US$13.6 billion compared to US$10.37 billion in 2007, according to unofficial forecasts
Macau News reported estimates by Portuguese news agency Lusa that revenues in December fell around seven percent, to US$956 million. This compares to US$1.01 billion in December 2007.
The Macau government predicted that the gross revenues of Macau’s 31 casinos will stabilise to an average monthly figure of around US$875 million at least until the end of the first quarter of 2009.
The provisional data also revealed that casino operator Sociedade de Jogos de Macau, owned by Macau businessman Stanley Ho, continues to lead the market in terms of gross revenue, followed by Sheldon Adelson’s Las Vegas Sands.
Wynn Resorts, which will open its second casino/hotel in Macau this year, kept its third position on the list of the most profitable casino operators in 2008, followed by Melco/PBL, a consortium between Lawrence Ho, son of Stanley Ho, and Australian James Packer.
Galaxy Resorts, which is owned by Hong Kong businessmen and MGM, a joint-venture between the US company and Pansy Ho, daughter of Stanley Ho, closed the list.
Ian Jarrett
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