Comeback signs for Macau's casino sector
Posted by Epiphany Solutions on 27 Apr 2009 at 14:04
The casino sector in Macau looks to be making a bit of a comeback after it suffered hits from the global slowdown and a series of visa controls imposed on mainland Chinese visitors.
Macau is the only Chinese region in which casinos are allowed, but has not been immune to the global slowdown and new rules imposed by Chinese officials looking to restrict the gambling habits of mainland residents.
Revenue from casinos it is up by 8.1 per cent to 26 billion patacas ($3.2 billion or £2.2 billion) for the first three months of the year, according to Business News.
This is up from 24.1 billion patacas in the final three months last year, according to the Macau Gaming Inspection and Co-ordination Bureau. However, revenue was down 13 per cent from a year before when casinos brought in 29.8 billion patacas.
News is also picking up on the casino construction front, as the Business News also reports Las Vegas Sands, an operator which downed tools on Macau projects in November, has recently said it may restart building this year.
Revenue from casinos in Macau slid for three consecutive quarters in a row to December, and government bosses from Hong Kong, Guangdong, and Macau got together in February to talk about loosening visa restrictions.
