Macau’s gaming and gambling over US$12.5 billion in 2010

20 June 2007

Macau, China, 20 June – Revenue from gaming and gambling activities in Macau could be over 100 billion patacas (US$12.5 billion) at the end of 2010, the director of the Gaming Inspection and Coordination Bureau (GICB) told Macau magazine Revista Macau.

Manuel Neves, in an interview published in the latest edition of the magazine, also said that at the end of 2007 gaming revenue in Macau was expected to rise by 40 percent to 77 billion patacas.

The director of the GICB also said there was a “limit to the rise that is being seen,” as “it all depends on the economic growth of Chin, as the vast majority of gamblers are from the interior of the country.”

Neves said that by the end of the decade Macau was expected to have 34 or 35 casinos and that in 2007 a further two casinos were due to be opened: the Venetian and the MGM.

Neves said he believed the Macau gaming and gambling industry, which currently employs 35,000 people, in the medium term could give work to 60 or 80,000 people.

According to Neves the opening of casinos in other countries in the region, such as Singapore, did not affect Macau’s leadership in the short term as “the countries and territories of the region will still take a long time to have the conditions to compete with Macau.”

He also said in the interview that the Macau government had no intention of granting more than the three gaming and gambling concessions and three sub0-concessions.

Macau has an area of 25 square kilometers and a population of a little over 500,000 people. (macauhub)