Macau gaming revenues hit record values this year

macauAnyone with a keen eye for details noticed that the gaming revenues in Macau were on the rise and it was a fair assumption that sooner or later they will exceed those of Las Vegas. This has already happened and the last couple of years were particularly profitable for the Asian gambling hub, which now attracts millions of players from all over the world. The fact that this is the only place in China where it is legal to gamble definitely helps, because the vast majority of those who travel here are not necessarily players but also tourists and rich people on shopping sprees.

Its numerous casinos that are more luxurious than their American counterparts act as a magnet for these rich individuals and as a result the gambling revenues continue their uptrend. 2013 set new records, with initial estimations putting the October revenue at more than $4.5 billion, a 33% increase from last year. This is arguably the most profitable month of the year, and it is only fair to assume that at the end of 2013, the gaming revenues will revolve around the value of $14 billion.

By comparison, the land-based casinos in the Silver State can only brag about figures of $11 billion, a modest gain from 2012. Las Vegas Sands, Wynn Resorts and MGM Resorts can consider themselves lucky to have invested millions in Macau casinos, because their overseas ventures are thriving and completely offset the less than stellar results recorded on home soil. As for Macau economy, the casino generated revenue represents more than 50% of the total gains and these figures are expected to go up.

Prominent poker companies are building new rooms here and MGM is behind one of the most ambitious projects, with its latest complex to emerge in the Cotai Strip in the next couple of years. While Texas hold ’em and other variants of poker represent only the tip of the iceberg when it comes to gambling revenue, this is a fast-growing market that shouldn’t be underestimated. PokerStars and other major players have established a stronghold in Macau and they have no intention of downsizing, quite the opposite.

Most of those who travel to this booming city are highrollers willing to spend big bucks at the tables, regardless of their game of choice. This makes Macau a heaven for poker professionals who know that they can always feed upon billionaires who have more money than poker skills and don’t mind losing. The bottom line is that everybody wins, and even those who finish below the profitability line have no problem with these losses, because they have a good time and that’s the only thing that matters to them.