Gaming in Macau grosses US$6.985 billion in 2006

23 January 2007

Macau, China, 23 Jan – Gaming and gambling activities in Macau posted gross revenues of 55.884 billion patacas (US$6.985 billion) in 2006, a rise of 22 percent against the figures for 2005, the Gaming Inspection and Coordination Bureau (GICB) said in Macau Monday.

Revenues from Macau’s 24 casinos totaled 54.998 million patacas, or 22.96 percent more than the total for 2005.

Baccarat, VIP baccarat, mini-baccarat and three-card baccarat together generated turnover of 47.526 billion patacas, an annual rise of 23.6 percent.

Last year the four types of baccarat accounted for 85 percent of all gaming and gambling revenues in Macau.

The Macau gaming sector 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 11 casinos in Macau. (macauhub)