Macau Posts Record Gaming Revenue for October
If you a keen casino enthusiast, you may have seen the news headline “Macau posts record gaming revenue for October.” The announcement of record breaking revenues in the region caused many people in the industry to sit up and take notice. Over the past few years, the special administrative region of Macau has risen to become one of the world’s leading land based gambling destinations. Gambling in Macau is not a new phenomenon. Land based casinos and gambling has been legal in the region since as early as the 1850’s. The rise in revenue is based on shifting trends and the influx of middle class gamblers frequenting the casinos.
Gambling in Macau
In Macau, over fifty percent of the total revenue for the region is derived from gambling tourism. This goes a long way to explaining the news line “Macau posts record gaming revenue for October.” In total Macau houses over 35 land based casinos. Most of the casinos are based along the Macau peninsula with 10 based on Tapina Island. The bulk of visitors to the region hail from China and Hong Kong with a significant increase after the colony was officially transferred to the People’s Republic of China in the late 1990’s.
In previous years, most of the casinos in Macau were frequented mainly by the wealthy Chinese elite. At the time, many of the casinos offered a small selection of Chinese casino games with very little for Western visitors. Changes to the casino’s games list and a rising Chinese economy has seen a shifting of trends and a massive increase in revenue which lead to the creation of the news line “Macau posts record gaming revenue for October.”
With increased publicity, Macau has been termed the Las Vegas of the orient. As such, the region has seen a marked increase in number of international tourists eager to visit their range of world-class casinos. The news line “Macau posts record gaming revenue for October,” is also a direct result of the casinos themselves. Macau’s major casinos played a major role in boosting the gambling economy. Since the introduction of westernised casino games, more and more overseas visitors have stepped through the doors handing over huge sums of cash.
More Visitors from China and the West
One of the biggest factors to influence the gambling revenue in Macau and lead to the news line “Macau posts record gaming revenue for October,” is the Chinese economy. While previously, the mega-rich Chinese high rollers were shying away from Macau, the growing economy has now opened up a new market for the middle class. As the Chinese economy continues to grow, more and more middle-class gamblers are setting their sights on Macau.
With an influx of wealth into China, more people are able to visit Macau and stay longer than ever before. The influx of Chinese gamblers along with the westernised casinos has led to a complete shift in gambling. Other forms of gaming in Macau are also open to visitors and include the local lottery, horse racing, greyhound racing and sports betting.