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Macau's gambling revenue up 35% in Jan

Feb. 2, 2012 (China Knowledge) - Macau, the only place in China where casino gambling is legal, saw its gambling revenue reach MOP 25.04 billion or US$3.13 billion in January 2012, reflecting a year-on-year increase of 35% from MOP 18.57 billion, according to the city's Gaming Inspection and Coordination Bureau.

The gambling revenue for last month grew 6.1% month on month but was still lower than the monthly record of MOP 26.85 billion Macau realized last October.

Despite of China's tightening steps and local government policies aimed at slowing growth, Macau's momentum in gambling industry is still strong, principally boosted by increased tourists from mainland China.

Statistics from Macau Government Tourist Office indicated that Macau's inbound tourists during the Chinese Spring Festival starting from Jan. 23 to Jan. 29 totaled 860,000, reflecting a year-on-year increase of 6.9%.  

A new casino developed by Sands China Ltd<1928>, the Macau unit of casino operator Las Vegas Sands Corp, is expected to open in Macau in the first quarter of 2012, said a person familiar with the matter.

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