Macau Casinos Win $3.88 Billion From Gamblers In August -- Second Best Total Of 2013
Gambling Hub On Pace To Smash Last Year's Record
In terms of money won from gambling customers, Macau is still booming, while the state of Nevada is still eking out a recovery after the Great Recession.
On Monday, the Macau government reported that gaming revenues for the month of August were 30.7 billion patacas, or $3.88 billion. That figure marked a 17.6-percent increase compared to August of last year and was the second best so far in 2013.
In 2012, Macau reaped $38 billion in gaming revenue, while the Silver State captured $10.8 billion. Macau’s year-over-year increase was 13.5 percent. Nevada saw statewide gaming revenues increase by a margin of 1.5 percent. The Las Vegas Strip went up 2.3 percent.
Nevada seems poised for another tiny uptick for 2013, while Macau is on pace to smash last year’s record figure. Gaming revenue in Macau has increased by an average of 16.2 percent each month so far in 2013, and they show no signs of slowing down.
Macau, a Portuguese colony until 1999, is the the closest place for wealthy Chinese — as well as the strong middle class — to go and gamble. According to Reuters, around 70 percent of gaming revenue in Macau is thanks to such high rollers. Nevada also relies heavily on such whales, but is much more diversified than its Asian counterpart. Nevada enjoys strong slot play.
The two regions might be in some sense competing, but some gaming firms do business in both locations. Nevada giants such as Las Vegas Sands Corp., Wynn Resorts and MGM Resorts International have profited immensely from Macau’s gambling-friendly environment.
In the midst of this gambling boom in Macau, the game of poker has increased in popularity in the region. Just this summer, a massive poker tournament in Macau awarded an incredible $4.5 million first-place prize. Additionally, as it is well-known by now, some of the biggest cash games in the world run there, featuring the likes of Tom Dwan and Gus Hansen.
Here is a look at the month-by-month comparison between the two gambling hubs:
January: $3.4 billion
February: $3.39 billion
March: $3.92 billion
April: $3.54 billion
May: $3.7 billion
June: $3.54 billion
July: $3.7 billion
August: $3.88 billion
August: Not yet recorded
Note: The Las Vegas Strip accounts for more than half of the statewide gaming revenue.
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