The Gaming Inspection & Coordination Bureau in Southern China’s only casino spot, nicknamed ‘City of Dreams, have reported a $45.2 billion profit for 2013 according to CardPlayer.com.
The marked increase in profits overshadows any doubts about the future of Macau as those very same entertainment establishments raked in a nineteen percent profit bump compared to 2012.
December was one of the highlight months of the year as the city was crammed full of Christmas gamblers and holiday makers with the New Year’s vacation hunters and casino fanatics following shortly behind. Within spitting distance of Hong Kong, which is just thirty miles away, and ninety miles from Guangzhou, the tiny city of Macau continues to attract tourists and wealthy residents into the city’s venues helping it maintain its status as the world’s largest gambling district
When we look at arguably Macau’s biggest competitor, Las Vegas, the revenue from Sin City is roughly one quarter with 2012’s figures reporting only a 1.5% increase up to 1.8 billion. Considering Macau is 29.5 Kilometres square and Las Vegas is 352 Kilometres squared, Macau is making the most out of the space as well as a quickly rising Asian economy. Geographically Macau is perfectly placed right now.
Even the entire commercial sector of the USA could only muster up $37 billion in 2012.Macau’s impressive yearly haul has also far exceed the USA’s $27.9 billion figure reported in 2012 for its tribal gambling industry. Furthermore, The Wall Street Journal forecasted further growth with estimations for 2014 sketching in a twenty percent increase. Rumours of continued success have already started whereby some say by 2017 Macau’s gambling revenue will reach an awe-inspiring $77 billion.
Such high profit hikes are mainly owing to Macau’s willingness to open the doors to foreign casino operators. The move was a bold one as the results are clear with additional casino developments in the pipeline.
Right now the revenue is shared amongst thirty brick and mortar casinos plus poker rooms have become popular. PokerStars LIVE are operating their own live cash game scene. On top of this, the esteemed poker site has been organising a host of tournaments in the city over 2013that attracted many poker pros and billionaire businessmen for .
To further stem the growth of the city, online gambling brings a new era of casinos to Macau. Already firms are starting to put together the paper work to get the virtual show on the road. PokerStars and FullTiltPoker are already available in Macau.