Macau Casinos Continue to Crush Competition

Casino News - March 4th, 2010 - Written By Glen

While Las Vegas, the former gambling capital of the world, and Atlantic City, the former gambling capital of the eastern United States, have been sliding into depression, Macau has reportedly seen massive gains on their revenue. Some reports say that Macau's gambling revenue had gains of almost 70% over the previous year's period.

The figures published on Wednesday showed an increase of profit revenue equal to 69.4%. Macau's casinos collectively generated $1.68 billion in February, a massive increase over the 2009 figure. These gains are thought to be from the tidal surge of people from mainland China.

Interestingly enough, the Chinese government has recently been cracking down on legal online gambling. Macau is the only location in China that allows legal gambling. Much of the money generated is reportedly coming from the high rollers in China.

The revenue generation had hit peaks of $87.55 million dollars a day in February, and is seemingly continue to grow. Some American based gaming companies have already shot up casinos in the area, including Sands, Wynn, and MGM. While these companies are struggling in the states, the Macau sector is continuing to grow.

The Chinese government has been cracking down on Online Gambling, but they have been making it easier for mainland residents to visit Macau. The unfettered growth of the Asian gambling industry is similar to that of the thriving online gambling market, which has shown gains despite many jurisdictions letting the hammer fall against online gambling.