Macau Turns In A Strong Performance For October 2012

MACAU TURNS IN A STRONG PERFORMANCE FOR OCTOBER 2012

01st November, 2012 at 02:11:40
Source: http://www.azonlinecasinos.com

Revenues of $3.5 billion generated by gambling island

Casinos on the island of Macau off the Chinese coast generated the strongest revenues so far this year in October, up 3.2% to 27.7 billion patacas ($3.5 billion), according to numbers from the Macau Gaming Inspection and Coordination Bureau released Thursday.

The percentage rise was 1.5% higher than analysts had predicted for the month.

The Reuters news agency comments that lower economic growth in China and heightened political scrutiny as the country prepares for a generational power shift have been keeping many cash-rich Chinese gamblers away from Macau's high roller baccarat tables, with growth rates falling substantially over the past six months.

Bloomberg business news noted that promotions over the eight-day Golden Week holiday attracted more Chinese tourists to the world's biggest gambling hub, with October revenues overtaking the record 26.85 billion patacas achieved in the same month in 2011.

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