World’s biggest casino hub jumped over 20 percent during golden week

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Macau, a former Portuguese colony which is located on China’s southern coast, is known for its tourism, casino, and extravagance hotels. It is among world’s top 10 cities regarding purchasing capacity and life expectancy. Being the only region in China with gambling legality, this city is also celebrated as the pre-eminent gambling capital of the world. Here we go with the gross revenue from gaming and gambling in Macau from 2007 to 2016.

1. 10.5 billion US dollars in 2007
2. 13.74 billion US dollars in 2008
3. 15.6 billion US dollars in 2009
4. 23.73 billion US dollars in 2010
5. 33.66 billion US dollars in 2011
6. 38.18 billion US dollars in 2012
7. 45.27 billion US dollars in 2013
8. 44.66 billion US dollars in 2014
9. 28.33 billion US dollars in 2015
10. 28.04 billion US dollars in 2016

As per the analysis, it was expected to grow 13 percent to 18 percent in October. But, the actual growth exceeds analysts’ expectations. Boosted by the national holiday week, the revenue from gambling in Macau has jumped 22 percent; i.e., $3.3 billion. This is the highest casino revenue since October 2014. Hence, the past month has registered itself as the 15th consecutive month of growth in Chinese territory. “The final week of October indicated that the VIP and premium mass segments both benefited from strong demand. The absence of any telegraphing of intentions to further crack down on gaming has probably alleviated the anxiety of Chinese VIPs about gaming activities,” said a Macau-based managing partner at Asian gaming consultancy IGamiX.

The hotel rooms were fully booked during the holiday week which ran from October 1st to 8th. Interestingly, the holiday period of 2017 was one day longer than 2016. During this period, it had registered strong VIP gains from Sands and Wynn. The VIP section is filled with those punters who love to place around 1 million yuan ($150,936) per bet. However, the analysts are not sure about the sustainability of its current volume.