Macau: Macau ends 2008 with gaming revenues of US$13.7 billion

19 January 2009

Macau, China, 19 Jan – The gaming and gambling sector in Macau ended 2008 with total revenues of 109.826 billion patacas (US$13.7 billion), or 31 percent more than in 2007, according to official figures released Friday.

Most of the total in 2008 came from Macau’s 31 casinos, or 3 more than were open in 2007.

According to figures from the Gaming Inspection and Coordination Bureau cited by news agency MacauNews, Macau’s casinos alone posted profit of 108.772 billion patacas (US$13.59 billion) in 2008 as compared to 83 billion patacas (US$10.3 billion) in 2007.

Gaming revenues along with casinos include income from horse and greyhound racing, lotteries and betting on football and basketball.

Baccarat, which is the most popular game in Macau’s casinos, generated 87.17 percent of all casino revenues during 2008.

Revenues from slot machines also saw strong growth – of slightly over 57 percent – to a total of 5.653 billion patacas (US$706 million).

Quarterly gaming revenues at the casinos fell over 2008 despite being higher overall than for 2007.

In the period between January and March of 2008 gross casino revenues totalled 29.8 billion patacas (US$3.7 billion) and in the second quarter it fell to 28.8 billion patacas (US$3.6 billion).

The fall in revenue became more significant in the middle of the year and in the third quarter revenues of 25.9 billion patacas (US$3.23 billion) and between October and December revenues were 24.07 billion patacas (US$3 billion).

Stanley Ho’s Sociedade de Jogos de Macau remained the gaming market leader in 2008, with a market share of 26.5 percent or 2.5 percentage points more than Las Vegas Sands, its closest rival.

Wynn Resorts had a market share of slightly over 16.5 percent, followed by Melco/PBL with a little over 14 percent, Galaxy Resorts had 10.5 percent and MGM had 8 percent. (macauhub)