Casino News

Macao revenues 'up by 46.5%'

2008-01-04 17:18:01

Macao casino revenues for the year climbed 46.5 per cent in 2007, according to interim figures.

According to the Gaming Inspection and Coordination Bureau in Macao, total revenues could be as much as £10 billion.

The gambling enclaves' success can be attributed in part to the launch of the MGM Grand Macau casino, which took gross receipts of $6.6 million within two days of opening.

A senior official for the gaming bureau said that gross receipts from casinos across the enclave are expected to amount to more than $1 billion in December alone.

There are 28 casinos in Macao and there are no signs that the former Portuguese colony will be slow down anytime soon.

In fact, MGM Mirage is hoping to expand further in the Macao gambling market.

Reclaimed land called the Cotai Strip has been bought up by MGM in the hope that it can be developed into a Las Vegas-style resort.