Baccarat Contributes Significantly in Overall Revenues of Macau Casinos
Not only has the former Portuguese colony of Macau surpassed the Las Vegas Strip as the world's most popular gambling destination, but it has further place salt in Nevada's wounded pride by showing a seventy percent improvement in its latest casino revenue for February 2010 compared to last year.
Macau was a Portuguese colony until 1999 when mainland China reclaimed sovereignty over Macau and have since transformed the enclave into the "Monte Carlo of Asia" and the only place in China were gambling is allowed.
Macau, which has a half a million residents and located closed to Hong Kong, earned a total of $1.68 billion in casino gaming revenue throughout the month of February 2010, representing an astounding 69.4 percent improvement from the same month last year.
The 2nd half of February 2010 as saw gaming revenues reached a peak of $87.55 million per day, with VIP baccarat continuing to be a major attraction for high roller gamblers from mainland China. Baccarat also contributed significantly to the casino revenues of gaming facilities in Macau especially during the Chinese New Year.
Overall, despite dropping 12.4 percent in the first six months of 2009, Macau's gambling revenue was up by 9.7 percent throughout the year. But Macau's gaming success is not all bad news for gaming companies in the United States, with Las Vegas Sands, Wynn Resorts and MGM Mirage all having gaming properties in Macau.
Sands China Ltd is one of the largest gaming operators in Asia and revealed that its net earnings for February 2010 reached $213.8 million from $175.7 million in 2009, while its shares were up by 2.9 percent and 12.9 percent this year.
The group, which manages three gaming facilities in Macau, is also seen as an excellent investment by JP Morgan Chase and Co. gaming analysts Steven Li, Billy Ng and Joanne Cheung. Steven Li said on March 3rd, 2010 that Sands China is one of the gaming companies where investors can be assured that their investment will grow.
Sunday, March 21, 2010