Statistics

Macao's casino revenue said to double to $2.12b in May

(Agencies)
Updated: 2010-06-02 11:47

Casino gambling revenue in Macao, the world's biggest gambling hub, almost doubled last month, according to a person familiar with the information.

Gambling revenue for the city's casinos in May rose to about 17 billion patacas ($2.12 billion) from 8.8 billion patacas a year earlier, according to the person, who requested anonymity because the data isn't public. The total for the five months through May rose to about 72 billion patacas from 43 billion patacas a year earlier, the person said.

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Growth is accelerating for casinos in the only Chinese city where they are legal on more wagers at baccarat tables with minimum bets of 10,000 patacas or more. Macao gambling revenue surged 57 percent in the first quarter to about 41 billion patacas as China's economic growth accelerated to 11.9 percent, the fastest pace in almost three years. Macao's government doesn't release monthly figures.

Macao surpassed the Las Vegas Strip as the world's biggest gambling hub in 2006. Bettors wagered a record 119 billion in Macao's casinos last year, 9.7 percent higher than in 2008.