Revenue from casino gambling in Macau just reached an all-time high in January, but that record would possibly not stand longer than 60 days as March seems prone to reach a brand new zenith. Three weeks into the month, revenue already equals all of February and seems certain to top January.January gaming totals in Macau equalled $1.8 billion, an increase of 63 percent from the similar month within the previous year, and essentially the most Macau's casinos had done. Thus far in March, revenue is already at $1.68 billion, with eight days still to move within the month.
Sands China trailed only SJM Holdings, the casino empire Stanley Ho built from his years owning the region's gambling monopoly, in market share. The advances in Macau and bright prospects had led Las Vegas Sands stock to transport from $10 a share on the New Year to nearly $22 today.
Macau's potential also resulted in MGM Mirage's decision this week to sell its shares in Atlantic City's Borgata Casino. MGM executives feel their partnership with Pansy Ho in Macau is more important than owning the highest casino in New Jersey.
Both Sands and MGM barely squeaked throughout the recession, as deb t payments came due right when income was in free fall. But Macau business prospects have bounced back faster and much higher than those of Las Vegas, so companies well-invested within the Far East has been the pick of the gaming industry recently.
Published on March 22, 2010 by JulieWong
Read More... [Source: Macau Casino Gambling News]
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