Macau’s casino revenues over US$6.25 billion in 2006

26 December 2006

Macau, China, 26 Dec – Macau’s Secretary of State for the Economy and Finance, Francis Tam, said Friday he was confident that gross gaming revenues in the Special Administrative Region (SAR) could exceed 50 billion patacas (US$6.25 billion).

In 2005 revenues from the gambling sector totaled 44.725 billion patacas, while gaming revenues totaled 45.8 billion patacas.

Gross revenues from the gaming sector in Macau at the end of the third quarter of this year, exceeded those of Las Vegas by US$433 million, making the SAR the world’s biggest gaming and gambling center.

The Macau government applies a direct tax of 35 percent on gaming and gambling plus 4 percent in indirect taxes and charges for each table and slot machine in a casino.

The gaming sector in Macau currently has six operators – three concession-holders and three sub-concession holders – of which
just five are operating as the consortium between US company MGM and the daughter of gaming magnate Stanley Ho, Pansy Ho, as yet has no facility.

Stanley Ho, through Sociedade de Jogos de Macau (SJM), runs 17 of the Macau’s 24 casinos, Galaxy Resorts has five gaming facilities, Las Vegas Sands has one casino (the largest in the world) and Wynn Resorts has one casino.

The consortium between Melco and Australia’s PBL, with Lawrence Ho, son of Stanley Ho, as yet operates no casinos, but runs several slot machine rooms.

In 2007 it plans to open the Crown hotel/casino, on Taipa island and a year later, the City of Dreams casino, also on Taipa.

In 2007 the Venetian hotel/casino is due to open, in the land fill areas between Taipa and Coloane, which will be operated by Las Vegas Sands, as well as Grande Lisboa, Stanley Ho’s new casino located in Macau’s biggest building and Pansy Ho’s MGM casino.

In 2008 a casino and hotel complex run by Hong Kong’s Galaxy group is due to open in the landfill area between Taipa and Coloane islands.

With the opening of another casino in Macau on December 23, owned by the Group headed by Stanley Ho, Macau now has 24 casinos.

In 2002, when the monopoly on gaming and gaming held by Stanley Ho’s Sociedade de Turismo e Diversões de Macau (STDM) ended, there were 111 casinos in Macau. (macauhub)