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Banking

Macao on winning streak

Gambling revenue surged last year for the ex-Portugese colony and special administrative region of the People's Republic of China

Macao comprises less than half a million people, and depends on gambling and tourism for its revenue, but judging by the latest data from the government, the small island – accessible by ferry from Hong Kong – is to continue growing throughout 2012.


It's good news for the former Portuguese colony, which derives nearly all its revenue from gambling (all data in Macao's currency the patacas):



Casino revenue in Macao:

Surged 42% in 2011 to 267.87 billion patacas

December gaming revenue rose 25% to 23.61 billion patacas

Some of the major players in Macao include US-owned Sands China, Wynn Macau, MGM China Holdings and Melco Crown Entertainment.

Source: Reuters



It makes interesting reading because, in May, this notable chart from The Economist revealed the growth in Asia's gambling industry:





Even then, it was noted in the same article that:




Macao and Monaco, which derive nearly all of their gambling revenue from tourists, do not make the list.



However, this could change for Macao this year.


- Euromoney Skew Blog


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